Service Corporation International (NYSE:SCI) Reaches New 52-Week High - Here's What Happened

Key Points

• Service Corporation International shares reached a new 52-week high of $87.51 (last trade $87.42) on Friday, with roughly 147,444 shares changing hands and the stock up about 2.2%.
• Analysts show a consensus Buy rating with an average target of $98, including JPMorgan's "overweight" with a $110 target and Oppenheimer raising its target to $97.
• SCI raised its quarterly dividend to $0.34 (annualized $1.36, ~1.5% yield) and reported quarterly EPS of $1.14 (in line with estimates) on $1.11B revenue, while carrying relatively high leverage (debt-to-equity ~3.1) and a projected FY EPS of 4.2.

Service Corporation International (NYSE:SCI - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $87.51 and last traded at $87.4240, with a volume of 147444 shares changing hands. The stock had previously closed at $86.37.

Wall Street Analyst Weigh In

Several research firms have recently commented on SCI. Weiss Ratings raised shares of Service Corporation International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 2nd. Wall Street Zen cut shares of Service Corporation International from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Oppenheimer raised their price objective on shares of Service Corporation International from $94.00 to $97.00 and gave the company an "outperform" rating in a research note on Thursday, April 2nd. Finally, JPMorgan Chase & Co. started coverage on shares of Service Corporation International in a research note on Tuesday, January 20th. They issued an "overweight" rating and a $110.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $98.00.

Service Corporation International Trading Up 2.2%

The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 3.10. The business's fifty day moving average is $81.30 and its 200 day moving average is $80.61. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.14 EPS for the quarter, hitting analysts' consensus estimates of $1.14. Service Corporation International had a net margin of 12.59% and a return on equity of 34.21%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted $1.06 earnings per share. The firm's quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Service Corporation International will post 4.2 earnings per share for the current year.

Service Corporation International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, March 13th. This is a positive change from Service Corporation International's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.5%. Service Corporation International's dividend payout ratio (DPR) is 35.79%.

Insider Buying and Selling at Service Corporation International

In other Service Corporation International news, CAO Tammy R. Moore sold 5,000 shares of Service Corporation International stock in a transaction on Friday, February 13th. The shares were sold at an average price of $80.48, for a total value of $402,400.00. Following the sale, the chief accounting officer directly owned 21,654 shares in the company, valued at approximately $1,742,713.92. The trade was a 18.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tony Coelho sold 7,700 shares of Service Corporation International stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $79.87, for a total transaction of $614,999.00. Following the completion of the sale, the director owned 28,388 shares in the company, valued at $2,267,349.56. The trade was a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Service Corporation International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCI. Steigerwald Gordon & Koch Inc. bought a new position in shares of Service Corporation International in the 3rd quarter valued at about $33,000. Root Financial Partners LLC bought a new position in shares of Service Corporation International in the 3rd quarter valued at about $34,000. Quent Capital LLC bought a new position in shares of Service Corporation International in the 3rd quarter valued at about $34,000. Sunbelt Securities Inc. bought a new position in shares of Service Corporation International in the 3rd quarter valued at about $42,000. Finally, Sentry Investment Management LLC bought a new position in shares of Service Corporation International in the 3rd quarter valued at about $46,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

About Service Corporation International

Service Corporation International NYSE: SCI is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.

Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.

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