Raymond James Financial Reiterates Outperform Rating for Service Corporation International (NYSE:SCI)

Key Points

• Raymond James Financial has reiterated an "outperform" rating on Service Corporation International (NYSE:SCI) and raised its price target to $90.00, suggesting a potential upside of 13.76% from the current stock price.
• UBS Group has lowered its price target from $90.00 to $88.00, maintaining a "buy" rating, while the company's consensus rating remains a "Moderate Buy" with a target price of $90.50.
• Service Corporation International reported a quarterly EPS of $0.88, exceeding estimates, and recorded a 3.0% increase in revenue year-over-year, totaling $1.07 billion.

Service Corporation International (NYSE:SCI - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Raymond James Financial in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $90.00 price target on the stock, up from their prior price target of $85.00. Raymond James Financial's target price indicates a potential upside of 11.78% from the stock's previous close.

Separately, UBS Group decreased their price objective on Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.50.

Service Corporation International Trading Up 1.4%

Shares of Service Corporation International stock traded up $1.14 during trading hours on Monday, hitting $80.52. The company's stock had a trading volume of 998,603 shares, compared to its average volume of 1,184,334. Service Corporation International has a 12 month low of $71.75 and a 12 month high of $89.37. The stock has a 50 day moving average of $79.20 and a 200 day moving average of $78.54. The company has a market capitalization of $11.29 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.93 and a beta of 0.90. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.61 and a quick ratio of 0.56.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. Analysts predict that Service Corporation International will post 3.84 earnings per share for the current year.

Insiders Place Their Bets

In other Service Corporation International news, President Sumner J. Waring III sold 56,100 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $76.57, for a total value of $4,295,577.00. Following the completion of the transaction, the president directly owned 295,192 shares in the company, valued at $22,602,851.44. This trade represents a 15.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Service Corporation International

Hedge funds have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Service Corporation International by 2.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 52,876 shares of the company's stock worth $4,304,000 after buying an additional 1,446 shares in the last quarter. Tobam boosted its holdings in Service Corporation International by 354.8% in the second quarter. Tobam now owns 17,915 shares of the company's stock worth $1,458,000 after acquiring an additional 13,976 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Service Corporation International by 28.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 33,193 shares of the company's stock worth $2,702,000 after purchasing an additional 7,273 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Service Corporation International in the second quarter worth approximately $3,171,000. Finally, Strs Ohio increased its position in shares of Service Corporation International by 21.9% during the second quarter. Strs Ohio now owns 23,479 shares of the company's stock valued at $1,911,000 after acquiring an additional 4,216 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

About Service Corporation International

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.