New Mexico Educational Retirement Board purchased a new position in Service Co. International (NYSE:SCI) during the 4th quarter, Holdings Channel reports. The firm purchased 46,300 shares of the company’s stock, valued at approximately $1,728,000.
A number of other institutional investors have also modified their holdings of SCI. Quantitative Systematic Strategies LLC bought a new stake in Service Co. International in the fourth quarter worth about $293,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Service Co. International by 44.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,111 shares of the company’s stock worth $377,000 after acquiring an additional 3,128 shares in the last quarter. Stephens Inc. AR raised its position in Service Co. International by 31.8% in the fourth quarter. Stephens Inc. AR now owns 10,120 shares of the company’s stock worth $378,000 after acquiring an additional 2,443 shares in the last quarter. Highland Capital Management LLC bought a new stake in Service Co. International in the fourth quarter worth about $506,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Service Co. International in the third quarter worth about $510,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Several equities research analysts have commented on the stock. Deutsche Bank boosted their price target on shares of Service Co. International from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Service Co. International from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research report on Saturday, October 28th. Credit Suisse Group boosted their price target on shares of Service Co. International from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Oppenheimer reiterated a “buy” rating and issued a $42.00 price target on shares of Service Co. International in a research report on Thursday, January 18th. Finally, Off Wall Street assumed coverage on shares of Service Co. International in a research report on Friday, December 15th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $42.50.
Shares of Service Co. International (SCI) opened at $38.85 on Monday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.65 and a current ratio of 0.58. The stock has a market capitalization of $7,187.60, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. Service Co. International has a twelve month low of $30.02 and a twelve month high of $40.28.
Service Co. International (NYSE:SCI) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.05. The firm had revenue of $812.73 million for the quarter, compared to the consensus estimate of $823.66 million. Service Co. International had a return on equity of 23.68% and a net margin of 17.66%. During the same quarter in the previous year, the company earned $0.47 EPS. equities analysts expect that Service Co. International will post 1.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Service Co. International’s previous quarterly dividend of $0.15. Service Co. International’s payout ratio is presently 21.05%.
Service Co. International declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 13th that allows the company to repurchase $298.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Service Co. International 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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