Service Co. International (NYSE:SCI) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Service Co. International (NYSE:SCI - Get Free Report) posted its earnings results on Wednesday. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04, Briefing.com reports. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.02 billion. Service Co. International had a return on equity of 32.88% and a net margin of 13.11%. Service Co. International's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. Service Co. International updated its FY24 guidance to $3.50-3.80 EPS.

Service Co. International Trading Down 0.4 %

Shares of SCI stock traded down $0.31 on Wednesday, reaching $71.40. 1,966,015 shares of the stock were exchanged, compared to its average volume of 831,898. The stock has a market cap of $10.46 billion, a PE 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 company has a debt-to-equity ratio of 3.02, a current ratio of 0.67 and a quick ratio of 0.62. The stock has a 50 day moving average price of $72.36 and a 200 day moving average price of $67.06.

Service Co. International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given 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 annualized dividend and a yield of 1.68%. Service Co. International's payout ratio is presently 32.95%.

Insider Transactions at Service Co. International

In other news, Director Tony Coelho sold 8,950 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $75.39, for a total transaction of $674,740.50. Following the completion of the sale, the director now owns 60,887 shares in the company, valued at $4,590,270.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Thomas L. Ryan sold 75,000 shares of Service Co. International stock in a transaction on Monday, March 4th. The stock was sold at an average price of $73.53, for a total transaction of $5,514,750.00. Following the completion of the sale, the chief executive officer now directly owns 988,365 shares of the company's stock, valued at $72,674,478.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tony Coelho sold 8,950 shares of Service Co. International stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $75.39, for a total value of $674,740.50. Following the sale, the director now directly owns 60,887 shares of the company's stock, valued at $4,590,270.93. The disclosure for this sale can be found here. Insiders sold a total of 202,675 shares of company stock worth $15,066,906 over the last 90 days. 4.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SCI has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Service Co. International from $71.00 to $76.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. UBS Group lifted 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Service Co. International has an average rating of "Moderate Buy" and an average price target of $75.00.

Service Co. International Company Profile

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.

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