Service Co. International (NYSE:SCI) Hits New 12-Month High After Dividend Announcement

Service Co. International (NYSE:SCI) shares reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $86.39 and last traded at $85.22, with a volume of 55343 shares changing hands. The stock had previously closed at $83.72.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.44%. This is a boost from Service Co. International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. Service Co. International’s dividend payout ratio (DPR) is presently 34.88%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial raised their target price on shares of Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James raised their price objective on shares of Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Service Co. International from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.25.

Service Co. International Price Performance

The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.40 and a beta of 0.83. The stock’s 50 day simple moving average is $78.19 and its 200-day simple moving average is $74.55.

Service Co. International (NYSE:SCI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. Service Co. International’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. On average, analysts expect that Service Co. International will post 3.51 EPS for the current fiscal year.

Insider Transactions at Service Co. International

In other news, Director Ellen Ochoa sold 2,642 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total value of $201,875.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SCI. Whittier Trust Co. raised its stake in shares of Service Co. International by 406.5% in the 1st quarter. Whittier Trust Co. now owns 542 shares of the company’s stock valued at $40,000 after buying an additional 435 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in Service Co. International by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 129,305 shares of the company’s stock valued at $9,596,000 after purchasing an additional 1,731 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Service Co. International in the 1st quarter valued at approximately $590,000. Sciencast Management LP acquired a new position in shares of Service Co. International in the 1st quarter worth approximately $318,000. Finally, Empowered Funds LLC raised its holdings in shares of Service Co. International by 43.1% in the 1st quarter. Empowered Funds LLC now owns 17,137 shares of the company’s stock worth $1,272,000 after buying an additional 5,161 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Service Co. International Company Profile

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.