Service Co. International (NYSE:SCI – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.50-3.80 for the period, compared to the consensus earnings per share estimate of $3.61.
Analysts Set New Price Targets
Separately, UBS Group initiated coverage on shares of Service Co. International in a report on Thursday, November 30th. They set a buy rating and a $72.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $71.40.
Service Co. International Trading Up 1.4 %
Service Co. International (NYSE:SCI – Get Free Report) last released its earnings results on Monday, February 12th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Service Co. International had a net margin of 12.06% and a return on equity of 32.58%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $0.92 EPS. Service Co. International’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Service Co. International will post 3.44 earnings per share for the current year.
Service Co. International announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Service Co. International
In other news, SVP John H. Faulk sold 1,332 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $66.51, for a total value of $88,591.32. Following the sale, the senior vice president now directly owns 49,798 shares in the company, valued at approximately $3,312,064.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP John H. Faulk sold 1,332 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $66.51, for a total transaction of $88,591.32. Following the transaction, the senior vice president now directly owns 49,798 shares in the company, valued at approximately $3,312,064.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 112,783 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $60.82, for a total transaction of $6,859,462.06. Following the transaction, the chief executive officer now owns 962,409 shares in the company, valued at $58,533,715.38. The disclosure for this sale can be found here. Insiders have sold a total of 162,809 shares of company stock worth $9,919,708 in the last three months. Insiders own 5.20% of the company’s stock.
Hedge Funds Weigh In On Service Co. International
A number of hedge funds have recently added to or reduced their stakes in SCI. Quarry LP lifted its position in Service Co. International by 282.2% during the first quarter. Quarry LP now owns 493 shares of the company’s stock valued at $34,000 after acquiring an additional 364 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Service Co. International during the first quarter valued at approximately $44,000. Belpointe Asset Management LLC lifted its position in Service Co. International by 23.1% during the first quarter. Belpointe Asset Management LLC now owns 960 shares of the company’s stock valued at $66,000 after acquiring an additional 180 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Service Co. International by 26.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,373 shares of the company’s stock valued at $95,000 after acquiring an additional 284 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Service Co. International during the first quarter valued at approximately $155,000. 84.99% of the stock is currently owned by institutional investors.
Service Co. International Company Profile
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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