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

Service Co. International (NYSE:SCI) posted its quarterly earnings results on Wednesday. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07), Briefing.com reports. Service Co. International had a return on equity of 32.23% and a net margin of 12.73%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 2.0% 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 3.500-3.500 EPS.

Service Co. International Stock Performance

Service Co. International stock traded down $5.19 during mid-day trading on Thursday, reaching $74.72. The company had a trading volume of 4,155,825 shares, compared to its average volume of 902,431. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 2.90. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.16 and a beta of 0.84. The company has a 50 day moving average of $72.53 and a 200-day moving average of $71.42. Service Co. International has a 52 week low of $52.89 and a 52 week high of $80.37.

Service Co. International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, June 14th. Service Co. International’s dividend payout ratio (DPR) is currently 34.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SCI shares. Oppenheimer raised their price target on shares of Service Co. International from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. UBS Group upped their price target on Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial raised their price objective on Service Co. International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.00.

Insider Transactions at Service Co. International

In related news, Director Tony Coelho sold 2,900 shares of Service Co. International stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $72.38, for a total transaction of $209,902.00. Following the sale, the director now directly owns 60,629 shares of the company’s stock, valued at $4,388,327.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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.