Wall Street brokerages expect Service Co. International (NYSE:SCI) to announce sales of $806.66 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Service Co. International’s earnings, with the highest sales estimate coming in at $816.70 million and the lowest estimate coming in at $798.70 million. Service Co. International reported sales of $777.71 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The firm is expected to report its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Service Co. International will report full-year sales of $806.66 million for the current fiscal year, with estimates ranging from $3.19 billion to $3.21 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.31 billion per share, with estimates ranging from $3.29 billion to $3.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Service Co. International.
Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.05. The firm had revenue of $812.73 million for the quarter, compared to analyst estimates of $823.66 million. Service Co. International had a return on equity of 23.68% and a net margin of 17.66%. During the same period last year, the company earned $0.47 EPS.
A number of brokerages have recently weighed in on SCI. ValuEngine upgraded Service Co. International from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research lowered Service Co. International from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. Bank of America lifted their price objective on Service Co. International from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Deutsche Bank lifted their price objective on Service Co. International from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Credit Suisse Group lifted their price objective on Service Co. International from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.60.
In other Service Co. International news, Director Tony Coelho sold 3,110 shares of Service Co. International stock in a transaction on Friday, February 16th. The stock was sold at an average price of $39.11, for a total transaction of $121,632.10. Following the completion of the transaction, the director now owns 63,240 shares in the company, valued at $2,473,316.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in shares of Service Co. International by 59.6% in the fourth quarter. Acadian Asset Management LLC now owns 2,116,863 shares of the company’s stock worth $79,000,000 after purchasing an additional 790,166 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Service Co. International by 81.2% in the fourth quarter. Allianz Asset Management GmbH now owns 989,559 shares of the company’s stock worth $36,931,000 after purchasing an additional 443,533 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Service Co. International by 147.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 678,201 shares of the company’s stock worth $25,310,000 after purchasing an additional 403,703 shares during the last quarter. BlackRock Inc. raised its stake in shares of Service Co. International by 2.4% in the fourth quarter. BlackRock Inc. now owns 16,476,818 shares of the company’s stock worth $614,914,000 after purchasing an additional 387,530 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Service Co. International by 55.6% in the fourth quarter. Renaissance Technologies LLC now owns 845,500 shares of the company’s stock worth $31,554,000 after purchasing an additional 302,100 shares during the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
Shares of SCI stock opened at $37.70 on Monday. The company has a market capitalization of $6,974.84, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.94. Service Co. International has a fifty-two week low of $30.39 and a fifty-two week high of $40.28. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.55 and a current ratio of 0.58.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were paid a dividend of $0.17 per share. This is a boost from Service Co. International’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.80%. Service Co. International’s payout ratio is presently 43.87%.
Service Co. International declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 13th that authorizes the company to buyback $298.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
TRADEMARK VIOLATION WARNING: This story was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/04/09/806-66-million-in-sales-expected-for-service-co-international-sci-this-quarter-2.html.
About Service Co. International
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
Get a free copy of the Zacks research report on Service Co. International (SCI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Service Co. International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Co. International and related companies with MarketBeat.com's FREE daily email newsletter.