Service Co. International (NYSE:SCI) CEO Thomas L. Ryan sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.45, for a total value of $2,372,500.00. Following the transaction, the chief executive officer now owns 1,072,809 shares in the company, valued at $50,904,787.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SCI stock traded up $1.17 during mid-day trading on Friday, hitting $48.56. 997,900 shares of the stock were exchanged, compared to its average volume of 980,458. The stock’s fifty day simple moving average is $46.71 and its two-hundred day simple moving average is $44.05. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 2.13 and a beta of 0.91. Service Co. International has a 12-month low of $37.52 and a 12-month high of $48.69. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.60 and a current ratio of 0.64.
Service Co. International (NYSE:SCI) last announced its earnings results on Monday, July 29th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. The business had revenue of $812.57 million during the quarter, compared to the consensus estimate of $811.01 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts expect that Service Co. International will post 1.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, September 12th. Service Co. International’s dividend payout ratio (DPR) is presently 40.22%.
Service Co. International announced that its board has approved a stock buyback plan on Wednesday, August 14th that authorizes the company to buyback $246.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Separately, Raymond James upped their price target on Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $50.33.
Institutional investors and hedge funds have recently bought and sold shares of the business. Cullen Frost Bankers Inc. acquired a new position in shares of Service Co. International in the second quarter valued at approximately $29,000. Lee Financial Co acquired a new position in shares of Service Co. International in the second quarter valued at approximately $33,000. Penserra Capital Management LLC acquired a new position in shares of Service Co. International in the first quarter valued at approximately $38,000. Advisory Services Network LLC increased its holdings in shares of Service Co. International by 119.1% in the second quarter. Advisory Services Network LLC now owns 883 shares of the company’s stock valued at $41,000 after purchasing an additional 480 shares during the period. Finally, Vigilant Capital Management LLC acquired a new position in shares of Service Co. International in the second quarter valued at approximately $44,000. 88.05% of the stock is owned by hedge funds and other institutional investors.
About Service Co. International
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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