Service Co. International (NYSE:SCI) Issues FY 2022 Earnings Guidance

Service Co. International (NYSE:SCIGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $3.30-$3.70 for the period, compared to the consensus EPS estimate of $3.52. The company issued revenue guidance of -. Service Co. International also updated its FY22 guidance to $3.30-3.70 EPS.

Service Co. International Stock Down 0.1 %

Service Co. International stock traded down $0.08 during mid-day trading on Friday, reaching $64.70. The stock had a trading volume of 1,439,261 shares, compared to its average volume of 979,475. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 2.18 and a beta of 0.70. The company has a 50-day moving average price of $69.40 and a two-hundred day moving average price of $66.49. Service Co. International has a one year low of $57.27 and a one year high of $75.11. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.51 and a quick ratio of 0.55.

Service Co. International (NYSE:SCIGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.35. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1 billion. Service Co. International had a net margin of 18.38% and a return on equity of 39.67%. Service Co. International’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. On average, analysts expect that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, September 14th. Service Co. International’s payout ratio is 21.60%.

Service Co. International declared that its Board of Directors has initiated a share buyback program on Wednesday, May 4th that permits the company to repurchase $394.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Oppenheimer upped their price target on shares of Service Co. International from $64.00 to $74.00 in a research note on Monday, May 9th.

Insiders Place Their Bets

In other Service Co. International news, Director Ellen Ochoa sold 2,613 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $68.90, for a total value of $180,035.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Service Co. International news, Director Ellen Ochoa sold 2,613 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $68.90, for a total value of $180,035.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory T. Sangalis sold 22,800 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $69.29, for a total transaction of $1,579,812.00. Following the completion of the transaction, the vice president now owns 128,181 shares in the company, valued at approximately $8,881,661.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,216 shares of company stock valued at $13,088,279. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Service Co. International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Service Co. International by 2.3% in the first quarter. State Street Corp now owns 4,610,877 shares of the company’s stock worth $303,488,000 after buying an additional 104,551 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Service Co. International by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 903,954 shares of the company’s stock worth $59,499,000 after buying an additional 26,046 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Service Co. International by 23.3% in the first quarter. Renaissance Technologies LLC now owns 882,100 shares of the company’s stock worth $58,060,000 after buying an additional 166,900 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Service Co. International by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 661,694 shares of the company’s stock worth $43,553,000 after buying an additional 35,298 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Service Co. International by 149.7% in the first quarter. Allianz Asset Management GmbH now owns 357,986 shares of the company’s stock worth $23,563,000 after buying an additional 214,630 shares during the last quarter. Hedge funds and other institutional investors own 84.03% of the company’s stock.

Service Co. International Company Profile

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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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