Service Co. International (NYSE:SCI) to Repurchase $500.00 million in Stock

Service Co. International (NYSE:SCI) announced that its board has authorized a stock repurchase program on Wednesday, May 12th, RTT News reports. The company plans to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Shares of NYSE SCI traded up $0.75 during mid-day trading on Thursday, hitting $54.60. The stock had a trading volume of 1,079,406 shares, compared to its average volume of 986,936. The business has a 50 day moving average price of $52.73 and a two-hundred day moving average price of $50.28. Service Co. International has a 1 year low of $33.93 and a 1 year high of $56.74. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.55 and a current ratio of 0.59. The firm has a market cap of $9.18 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 1.62 and a beta of 0.69.

Service Co. International (NYSE:SCI) last released its quarterly earnings data on Sunday, May 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.33. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $955.77 million. Service Co. International had a net margin of 13.62% and a return on equity of 24.63%. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. Equities research analysts predict that Service Co. International will post 2.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, June 14th. Service Co. International’s payout ratio is 44.21%.

Separately, Oppenheimer lifted their price objective on Service Co. International from $54.00 to $59.00 in a report on Monday.

In other news, Director Alan R. Buckwalter III sold 8,022 shares of the firm’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $48.51, for a total value of $389,147.22. Following the completion of the sale, the director now directly owns 86,393 shares of the company’s stock, valued at approximately $4,190,924.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan R. Buckwalter III sold 40,000 shares of Service Co. International stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $56.01, for a total transaction of $2,240,400.00. Following the sale, the director now directly owns 46,393 shares in the company, valued at approximately $2,598,471.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,711 shares of company stock valued at $2,838,013. Company insiders own 4.70% of the company’s stock.

About Service Co. International

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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