$784.65 Million in Sales Expected for Service Co. International (NYSE:SCI) This Quarter

Wall Street brokerages expect Service Co. International (NYSE:SCI) to announce sales of $784.65 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Service Co. International’s earnings. The lowest sales estimate is $783.20 million and the highest is $786.10 million. Service Co. International reported sales of $778.79 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The business is scheduled to announce its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Service Co. International will report full-year sales of $3.26 billion for the current year, with estimates ranging from $3.25 billion to $3.26 billion. For the next year, analysts forecast that the business will report sales of $3.34 billion, with estimates ranging from $3.33 billion to $3.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Service Co. International.

Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Service Co. International had a return on equity of 20.55% and a net margin of 12.88%. The business had revenue of $812.57 million for the quarter, compared to analysts’ expectations of $811.01 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis.

A number of brokerages recently issued reports on SCI. ValuEngine raised Service Co. International from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Raymond James increased their price objective on Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $50.33.

Shares of Service Co. International stock traded up $0.33 on Monday, reaching $46.59. The stock had a trading volume of 19,705 shares, compared to its average volume of 718,098. The business’s 50-day moving average price is $46.74 and its two-hundred day moving average price is $43.93. 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 has a fifty-two week low of $37.52 and a fifty-two week high of $48.69. The stock has a market cap of $8.40 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.91.

Service Co. International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 14th that authorizes the company to repurchase $246.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.55%. Service Co. International’s dividend payout ratio (DPR) is presently 40.22%.

In other news, CFO Eric D. Tanzberger sold 230,300 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $47.06, for a total value of $10,837,918.00. Following the completion of the sale, the chief financial officer now directly owns 158,417 shares of the company’s stock, valued at $7,455,104.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Steven A. Tidwell sold 43,900 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $45.07, for a total transaction of $1,978,573.00. Following the completion of the sale, the vice president now directly owns 92,382 shares of the company’s stock, valued at $4,163,656.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 597,065 shares of company stock valued at $28,063,972. 5.50% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in SCI. BlackRock Inc. raised its position in Service Co. International by 0.6% during the second quarter. BlackRock Inc. now owns 16,219,458 shares of the company’s stock valued at $758,745,000 after purchasing an additional 102,413 shares during the period. Atlanta Capital Management Co. L L C increased its stake in Service Co. International by 52.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 3,580,662 shares of the company’s stock worth $167,503,000 after purchasing an additional 1,227,900 shares during the period. Handelsbanken Fonder AB increased its stake in Service Co. International by 7.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 3,126,725 shares of the company’s stock worth $146,268,000 after purchasing an additional 204,177 shares during the period. FIL Ltd increased its stake in Service Co. International by 0.3% in the 1st quarter. FIL Ltd now owns 3,042,436 shares of the company’s stock worth $122,153,000 after purchasing an additional 8,197 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Service Co. International by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,292,095 shares of the company’s stock worth $107,224,000 after purchasing an additional 38,138 shares during the period. 86.05% of the stock is owned by institutional investors and hedge funds.

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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