Service Co. International (NYSE:SCI) Posts Earnings Results, Beats Estimates By $0.02 EPS

Service Co. International (NYSE:SCIGet Free Report) posted its quarterly earnings results on Monday. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02, Briefing.com reports. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Service Co. International had a net margin of 12.06% and a return on equity of 32.58%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Service Co. International updated its FY24 guidance to $3.50-3.80 EPS.

Service Co. International Trading Up 1.3 %

Shares of Service Co. International stock traded up $0.90 on Monday, hitting $68.14. The stock had a trading volume of 935,285 shares, compared to its average volume of 855,575. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.62 and a beta of 0.79. The stock’s 50-day simple moving average is $67.61 and its two-hundred day simple moving average is $62.53. Service Co. International has a one year low of $52.89 and a one year high of $73.32. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.77.

Analysts Set New Price Targets

Separately, UBS Group initiated coverage on shares of Service Co. International in a research note on Thursday, November 30th. They set a “buy” rating and a $72.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.40.

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Insider Activity at Service Co. International

In related news, Director Tony Coelho sold 700 shares of Service Co. International stock in a transaction on Monday, November 27th. The shares were sold at an average price of $61.42, for a total value of $42,994.00. Following the sale, the director now owns 69,837 shares in the company, valued at $4,289,388.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Tony Coelho sold 700 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $61.42, for a total transaction of $42,994.00. Following the sale, the director now owns 69,837 shares in the company, valued at approximately $4,289,388.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 3,066 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $60.80, for a total transaction of $186,412.80. Following the sale, the chief executive officer now owns 962,409 shares in the company, valued at approximately $58,514,467.20. The disclosure for this sale can be found here. Insiders have sold a total of 162,809 shares of company stock worth $9,919,708 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Service Co. International

Several large investors have recently modified their holdings of SCI. American Century Companies Inc. raised its position in shares of Service Co. International by 10.2% in the 1st quarter. American Century Companies Inc. now owns 11,544 shares of the company’s stock worth $760,000 after purchasing an additional 1,068 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Service Co. International by 15.6% in the 1st quarter. HighTower Advisors LLC now owns 6,840 shares of the company’s stock worth $448,000 after purchasing an additional 922 shares during the last quarter. Private Advisor Group LLC raised its position in Service Co. International by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 8,269 shares of the company’s stock worth $544,000 after buying an additional 181 shares during the last quarter. Bank of Montreal Can raised its position in Service Co. International by 38.1% in the 1st quarter. Bank of Montreal Can now owns 32,245 shares of the company’s stock worth $2,135,000 after buying an additional 8,901 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Service Co. International by 30.1% in the 1st quarter. APG Asset Management N.V. now owns 17,700 shares of the company’s stock worth $1,047,000 after buying an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Service Co. International declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 8th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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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Earnings History for Service Co. International (NYSE:SCI)

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