Service Co. International (NYSE:SCI) Posts Earnings Results, Beats Expectations By $0.04 EPS

Service Co. International (NYSE:SCI) issued its earnings results on Wednesday. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04, Briefing.com reports. Service Co. International had a return on equity of 32.15% and a net margin of 12.73%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $0.93 earnings per share. The firm’s revenue for the quarter 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 Stock Performance

SCI stock traded down $2.01 during mid-day trading on Friday, reaching $67.59. 1,298,458 shares of the stock traded hands, compared to its average volume of 844,503. Service Co. International has a 52 week low of $52.89 and a 52 week high of $75.97. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 3.02. The firm has a market capitalization of $9.90 billion, a PE ratio of 19.37, a P/E/G ratio of 1.93 and a beta of 0.81. The business has a 50-day moving average of $72.31 and a two-hundred day moving average of $67.10.

Service Co. International Increases Dividend

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

Insiders Place Their Bets

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 stock was sold at an average price of $72.20, for a total transaction of $1,197,076.00. Following the sale, the chief executive officer now directly owns 988,365 shares in the company, valued at $71,359,953. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Thomas L. Ryan sold 16,580 shares of Service Co. International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $72.20, for a total value of $1,197,076.00. Following the completion of the transaction, the chief executive officer now owns 988,365 shares in the company, valued at $71,359,953. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victor L. Lund sold 1,011 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $70.00, for a total transaction of $70,770.00. Following the completion of the sale, the director now owns 7,606 shares of the company’s stock, valued at approximately $532,420. The disclosure for this sale can be found here. Insiders have sold a total of 211,292 shares of company stock valued at $15,670,096 in the last three months. Company insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

SCI has been the subject of a number of analyst reports. Oppenheimer boosted their price target on Service Co. International from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. UBS Group upped their price target on shares of Service Co. International from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Service Co. International Company Profile

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.