Service Co. International (NYSE:SCI) Increases Dividend to $0.32 Per Share

Service Co. International (NYSE:SCI - Get Free Report) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.32 per share on Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, March 14th. This is a positive change from Service Co. International's previous quarterly dividend of $0.31.

Service Co. International has increased its dividend payment by an average of 10.9% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Service Co. International has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Service Co. International to earn $4.21 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 28.5%.

Service Co. International Price Performance

SCI traded up $0.32 during midday trading on Friday, hitting $78.97. 1,274,148 shares of the company traded hands, compared to its average volume of 1,233,284. The business has a 50 day simple moving average of $78.80 and a two-hundred day simple moving average of $79.64. Service Co. International has a 52-week low of $67.19 and a 52-week high of $89.37. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 1.91 and a beta of 0.87. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.83.

Service Co. International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.06 earnings per share for the quarter, meeting analysts' consensus estimates of $1.06. Service Co. International had a net margin of 12.39% and a return on equity of 32.18%. On average, equities analysts forecast that Service Co. International will post 3.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SCI shares. Raymond James raised their price target 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. StockNews.com upgraded Service Co. International from a "sell" rating to a "hold" rating in a report on Tuesday. Oppenheimer lifted their price target on Service Co. International from $86.00 to $92.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Truist Financial upped their price objective on shares of Service Co. International from $84.00 to $92.00 and gave the company a "buy" rating in a report on Friday, November 1st. 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.50.

Service Co. International Company Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.