Service Corporation International (NYSE:SCI) Earns Outperform Rating from Credit Suisse Group

Service Corporation International (NYSE:SCI)‘s stock had its “outperform” rating reissued by stock analysts at Credit Suisse Group in a research note issued on Friday, November 3rd. They presently have a $40.00 target price on the stock, up from their previous target price of $38.00. Credit Suisse Group’s price objective would suggest a potential upside of 11.48% from the stock’s current price.

Several other brokerages have also commented on SCI. Zacks Investment Research raised Service Corporation International from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research note on Saturday, October 28th. BidaskClub raised Service Corporation International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $39.75.

Shares of Service Corporation International (NYSE:SCI) traded up $0.01 during trading hours on Friday, reaching $35.88. The company’s stock had a trading volume of 529,818 shares, compared to its average volume of 1,068,068. Service Corporation International has a 12 month low of $26.43 and a 12 month high of $36.56. The stock has a market cap of $6,675.81, a PE ratio of 23.27, a P/E/G ratio of 2.12 and a beta of 0.96. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 2.66.

Service Corporation International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Service Corporation International had a return on equity of 24.85% and a net margin of 11.83%. The business had revenue of $731.30 million for the quarter, compared to analyst estimates of $735.62 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. analysts predict that Service Corporation International will post 1.49 EPS for the current year.

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In related news, CFO Eric D. Tanzberger sold 187,100 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $34.93, for a total transaction of $6,535,403.00. Following the transaction, the chief financial officer now owns 150,217 shares of the company’s stock, valued at approximately $5,247,079.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory T. Sangalis sold 72,300 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $35.40, for a total value of $2,559,420.00. Following the transaction, the vice president now directly owns 129,883 shares in the company, valued at approximately $4,597,858.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 604,800 shares of company stock worth $21,109,153. 6.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its stake in Service Corporation International by 315.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock worth $123,000 after acquiring an additional 2,800 shares in the last quarter. IFP Advisors Inc lifted its stake in Service Corporation International by 2.1% during the 2nd quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after acquiring an additional 89 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Service Corporation International in the 2nd quarter valued at about $210,000. Hartford Investment Management Co. acquired a new stake in Service Corporation International in the 2nd quarter valued at about $229,000. Finally, HighTower Advisors LLC acquired a new stake in Service Corporation International in the 1st quarter valued at about $255,000. 85.51% of the stock is currently owned by hedge funds and other institutional investors.

Service Corporation International Company Profile

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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