Zacks: Brokerages Anticipate Service Co. International (NYSE:SCI) Will Announce Quarterly Sales of $844.30 Million
Analysts expect Service Co. International (NYSE:SCI) to post $844.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Service Co. International’s earnings. The highest sales estimate is $845.90 million and the lowest is $842.70 million. Service Co. International posted sales of $820.81 million during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is scheduled to report its next earnings results on Monday, February 17th.
On average, analysts expect that Service Co. International will report full year sales of $3.22 billion for the current financial year, with estimates ranging from $3.22 billion to $3.23 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.32 billion, with estimates ranging from $3.29 billion to $3.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Service Co. International.
Service Co. International (NYSE:SCI) last posted its earnings results on Wednesday, October 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $769.20 million for the quarter, compared to analyst estimates of $790.05 million. Service Co. International had a return on equity of 19.90% and a net margin of 12.98%. Service Co. International’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS.
In other news, CEO Thomas L. Ryan sold 50,000 shares of Service Co. International stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.45, for a total value of $2,372,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,072,809 shares of the company’s stock, valued at $50,904,787.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tammy R. Moore sold 7,900 shares of Service Co. International stock in a transaction on Friday, September 6th. The shares were sold at an average price of $46.89, for a total value of $370,431.00. Following the completion of the sale, the insider now directly owns 32,763 shares of the company’s stock, valued at $1,536,257.07. The disclosure for this sale can be found here. Insiders sold 70,598 shares of company stock valued at $3,343,419 over the last ninety days. Insiders own 5.50% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in Service Co. International by 4.3% during the 2nd quarter. Jennison Associates LLC now owns 5,221 shares of the company’s stock worth $244,000 after purchasing an additional 214 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in Service Co. International by 39.1% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 861 shares of the company’s stock worth $41,000 after purchasing an additional 242 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Service Co. International by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 10,978 shares of the company’s stock worth $524,000 after purchasing an additional 276 shares in the last quarter. Homrich & Berg grew its stake in Service Co. International by 5.7% during the 2nd quarter. Homrich & Berg now owns 5,598 shares of the company’s stock worth $262,000 after purchasing an additional 300 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in Service Co. International by 1.5% during the 2nd quarter. Profund Advisors LLC now owns 20,404 shares of the company’s stock worth $954,000 after purchasing an additional 300 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.
SCI stock opened at $44.34 on Tuesday. The business has a fifty day moving average of $44.74 and a two-hundred day moving average of $45.84. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.95. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.86. Service Co. International has a 52-week low of $37.52 and a 52-week high of $48.69.
Service Co. International announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 14th that permits the company to repurchase $246.00 million in shares. This repurchase authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.62%. Service Co. International’s payout ratio is presently 40.22%.
Service Co. International Company Profile
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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