Service Co. International (NYSE:SCI) Announces Earnings Results

Service Co. International (NYSE:SCI) issued its quarterly earnings results on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04, Briefing.com reports. Service Co. International had a return on equity of 32.88% and a net margin of 13.11%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Service Co. International’s revenue for the quarter was up 1.6% compared to the same quarter last year. Service Co. International updated its FY24 guidance to $3.50-3.80 EPS.

Service Co. International Trading Down 0.4 %

NYSE SCI traded down $0.31 during trading on Wednesday, hitting $71.40. The stock had a trading volume of 1,950,843 shares, compared to its average volume of 831,898. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.62 and a current ratio of 0.67. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.99 and a beta of 0.81. Service Co. International has a one year low of $52.89 and a one year high of $75.97. The stock has a 50 day simple moving average of $72.36 and a 200 day simple moving average of $67.06.

Service Co. International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.30 dividend. This is an increase from Service Co. International’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.68%. Service Co. International’s dividend payout ratio (DPR) is presently 32.95%.

Insiders Place Their Bets

In other Service Co. International news, Director W Blair Waltrip sold 6,150 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $74.38, for a total value of $457,437.00. Following the completion of the sale, the director now owns 597,948 shares of the company’s stock, valued at $44,475,372.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas L. Ryan sold 16,580 shares of Service Co. International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $72.20, for a total transaction of $1,197,076.00. Following the completion of the sale, the chief executive officer now owns 988,365 shares of the company’s stock, valued at $71,359,953. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Blair Waltrip sold 6,150 shares of Service Co. International stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $74.38, for a total transaction of $457,437.00. Following the sale, the director now directly owns 597,948 shares of the company’s stock, valued at approximately $44,475,372.24. The disclosure for this sale can be found here. Insiders sold a total of 202,675 shares of company stock valued at $15,066,906 over the last 90 days. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

SCI has been the subject of a number of analyst reports. Oppenheimer increased their price target on Service Co. International from $71.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. UBS Group raised their price objective on Service Co. International from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.00.

About Service Co. International

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.