Service Corporation International (NYSE:SCI) Cut to Hold at BidaskClub

Service Corporation International (NYSE:SCI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, July 25th.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Service Corporation International from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $37.00 price target (up from $34.00) on shares of Service Corporation International in a research report on Friday, July 21st. Finally, Deutsche Bank AG assumed coverage on shares of Service Corporation International in a research report on Monday, May 1st. They issued a “buy” rating and a $40.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $37.00.

Service Corporation International (NYSE SCI) remained flat at $34.90 during trading on Tuesday. The company had a trading volume of 503,471 shares. The stock’s 50 day moving average is $34.04 and its 200 day moving average is $31.87. The firm has a market capitalization of $6.53 billion, a PE ratio of 18.92 and a beta of 0.93. Service Corporation International has a 12 month low of $24.90 and a 12 month high of $35.50.

Service Corporation International (NYSE:SCI) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Service Corporation International had a net margin of 11.59% and a return on equity of 24.67%. The business had revenue of $773.20 million for the quarter, compared to the consensus estimate of $769.57 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts anticipate that Service Corporation International will post $1.47 EPS for the current year.

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In other news, Director Edward E. Williams sold 10,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $32.12, for a total value of $321,200.00. Following the completion of the sale, the director now directly owns 165,372 shares of the company’s stock, valued at $5,311,748.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 51,394 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $32.55, for a total transaction of $1,672,874.70. Following the completion of the sale, the chief executive officer now directly owns 1,119,503 shares of the company’s stock, valued at $36,439,822.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 210,000 shares of company stock valued at $6,725,578. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in SCI. BlackRock Inc. boosted its stake in shares of Service Corporation International by 13,931.4% in the first quarter. BlackRock Inc. now owns 16,407,111 shares of the company’s stock worth $506,652,000 after buying an additional 16,290,180 shares during the period. Vanguard Group Inc. boosted its stake in shares of Service Corporation International by 4.1% in the first quarter. Vanguard Group Inc. now owns 14,875,922 shares of the company’s stock worth $459,368,000 after buying an additional 583,346 shares during the period. State Street Corp boosted its stake in shares of Service Corporation International by 2.8% in the first quarter. State Street Corp now owns 4,940,752 shares of the company’s stock worth $152,574,000 after buying an additional 136,387 shares during the period. First Manhattan Co. boosted its stake in shares of Service Corporation International by 17.6% in the first quarter. First Manhattan Co. now owns 4,616,040 shares of the company’s stock worth $122,509,000 after buying an additional 691,037 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Service Corporation International by 0.6% in the first quarter. Clearbridge Investments LLC now owns 3,384,622 shares of the company’s stock valued at $104,517,000 after buying an additional 19,578 shares during the last quarter. 86.25% of the stock is 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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