Service Co. International (NYSE:SCI) announced that its Board of Directors has authorized a share buyback program, which allows the company to buyback $298.00 million in shares on Tuesday, February 13th, EventVestor reports. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
SCI has been the subject of a number of research reports. Off Wall Street began coverage on shares of Service Co. International in a report on Friday, December 15th. They set a “sell” rating for the company. Oppenheimer reissued a “buy” rating and set a $42.00 price target on shares of Service Co. International in a report on Thursday, January 18th. Credit Suisse Group lifted their price target on shares of Service Co. International from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Deutsche Bank lifted their price target on shares of Service Co. International from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Bank of America boosted their price objective on shares of Service Co. International from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $43.60.
Service Co. International (NYSE:SCI) traded down $0.16 during mid-day trading on Wednesday, hitting $38.81. 665,836 shares of the company traded hands, compared to its average volume of 1,247,418. The firm has a market capitalization of $7,257.90, a P/E ratio of 13.62, a PEG ratio of 1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.58 and a quick ratio of 0.55. Service Co. International has a fifty-two week low of $30.02 and a fifty-two week high of $40.28.
Service Co. International (NYSE:SCI) last posted its earnings results on Tuesday, February 13th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $812.73 million during the quarter, compared to analysts’ expectations of $823.66 million. Service Co. International had a net margin of 17.66% and a return on equity of 23.68%. During the same quarter in the prior year, the business earned $0.47 earnings per share. equities research analysts anticipate that Service Co. International will post 1.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.17 per share. This is a positive change from Service Co. International’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 14th. This represents a $0.68 annualized dividend and a yield of 1.75%. Service Co. International’s dividend payout ratio (DPR) is presently 21.05%.
In other Service Co. International news, Director Tony Coelho sold 3,110 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $39.11, for a total transaction of $121,632.10. Following the completion of the transaction, the director now owns 63,240 shares in the company, valued at approximately $2,473,316.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.20% of the stock is currently owned by company insiders.
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About Service Co. International
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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