Service Co. International (NYSE:SCI) Reaches New 12-Month High at $76.62

Service Co. International (NYSE:SCI)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $76.62 and last traded at $76.60, with a volume of 16835 shares traded. The stock had previously closed at $75.01.

Wall Street Analysts Forecast Growth

SCI has been the subject of several recent analyst reports. UBS Group lifted their price target on Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial increased their price target 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. Finally, Oppenheimer raised their price target on Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Service Co. International Price Performance

The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.57 and a current ratio of 0.62. The company has a market capitalization of $11.14 billion, a PE ratio of 21.55, a P/E/G ratio of 2.01 and a beta of 0.84. The company’s 50-day simple moving average is $71.85 and its 200-day simple moving average is $71.07.

Service Co. International (NYSE:SCI) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Service Co. International had a net margin of 12.73% and a return on equity of 32.23%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $0.93 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Service Co. International will post 3.66 earnings per share for the current year.

Service Co. International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. Service Co. International’s dividend payout ratio (DPR) is 34.48%.

Insiders Place Their Bets

In other Service Co. International news, Director Tony Coelho sold 2,900 shares of Service Co. International stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $72.38, for a total value of $209,902.00. Following the completion of the sale, the director now directly owns 60,629 shares of the company’s stock, valued at approximately $4,388,327.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Service Co. International

A number of hedge funds have recently made changes to their positions in SCI. Swedbank AB acquired a new position in shares of Service Co. International in the 1st quarter valued at $224,137,000. Norges Bank purchased a new stake in Service Co. International during the 4th quarter worth $92,331,000. GW&K Investment Management LLC bought a new stake in shares of Service Co. International during the 4th quarter valued at about $22,890,000. Jennison Associates LLC boosted its stake in Service Co. International by 430.3% during the 1st quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock valued at $26,499,000 after purchasing an additional 289,741 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in Service Co. International by 2,178.3% during the 4th quarter. Corient Private Wealth LLC now owns 234,484 shares of the company’s stock valued at $16,050,000 after purchasing an additional 224,192 shares during the period. Institutional investors and hedge funds own 85.53% 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.