Service Co. International (NYSE:SCI) Announces Quarterly Earnings Results

Service Co. International (NYSE:SCI) released its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04, Briefing.com reports. Service Co. International had a net margin of 12.73% and a return on equity of 32.15%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue was up 1.6% on a year-over-year basis. Service Co. International updated its FY24 guidance to $3.50-3.80 EPS and its FY 2024 guidance to 3.500-3.800 EPS.

Service Co. International Trading Down 2.9 %

Shares of SCI traded down $2.01 during mid-day trading on Friday, reaching $67.59. The company’s stock had a trading volume of 1,298,458 shares, compared to its average volume of 844,503. The company’s fifty day moving average price is $72.31 and its two-hundred day moving average price is $67.10. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 3.02. Service Co. International has a 52 week low of $52.89 and a 52 week high of $75.97. The stock has a market cap of $9.90 billion, a PE ratio of 19.37, a P/E/G ratio of 1.93 and a beta of 0.81.

Service Co. International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.30 dividend. This is a boost from Service Co. International’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, March 14th. Service Co. International’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SCI shares. UBS Group upped their target price on Service Co. International from $72.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Oppenheimer raised their target price 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Service Co. International presently has an average rating of “Moderate Buy” and an average price target of $75.00.

Insider Activity

In other news, CEO Thomas L. Ryan sold 75,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $73.53, for a total transaction of $5,514,750.00. Following the sale, the chief executive officer now owns 988,365 shares in the company, valued at approximately $72,674,478.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Thomas L. Ryan sold 16,580 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $72.20, for a total transaction of $1,197,076.00. Following the completion of the transaction, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $71,359,953. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Ryan sold 75,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $73.53, for a total transaction of $5,514,750.00. Following the sale, the chief executive officer now owns 988,365 shares of the company’s stock, valued at $72,674,478.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,292 shares of company stock valued at $15,670,096. Insiders own 5.10% of the company’s stock.

About Service Co. International

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.