Wall Street analysts expect Republic Services, Inc. (NYSE:RSG) to report $2.50 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Republic Services’ earnings. The highest sales estimate is $2.52 billion and the lowest is $2.46 billion. Republic Services reported sales of $2.38 billion in the same quarter last year, which indicates a positive year over year growth rate of 5%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 15th.
According to Zacks, analysts expect that Republic Services will report full year sales of $2.50 billion for the current fiscal year, with estimates ranging from $9.85 billion to $10.00 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.40 billion per share, with estimates ranging from $10.31 billion to $10.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Republic Services.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS.
Several research analysts have commented on the company. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America Corporation dropped their price target on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Royal Bank Of Canada restated an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 price objective on Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.71.
Shares of Republic Services (RSG) traded up $0.10 during midday trading on Friday, reaching $63.24. The company’s stock had a trading volume of 1,258,100 shares, compared to its average volume of 1,134,994. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. The company has a market cap of $21,102.94, a P/E ratio of 26.31, a P/E/G ratio of 3.11 and a beta of 0.61. Republic Services has a 52 week low of $54.38 and a 52 week high of $67.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, December 29th. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services declared that its board has approved a share repurchase program on Thursday, November 2nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
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In related news, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.05, for a total value of $1,493,258.40. Following the completion of the sale, the insider now owns 246,617 shares in the company, valued at $16,289,052.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now owns 428 shares of the company’s stock, valued at approximately $28,462. The disclosure for this sale can be found here. In the last three months, insiders sold 75,608 shares of company stock worth $4,929,866. Insiders own 0.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC increased its holdings in shares of Republic Services by 6.3% in the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after acquiring an additional 223 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Republic Services in the second quarter worth about $12,536,000. Royal Bank of Canada increased its holdings in shares of Republic Services by 11.0% in the second quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock worth $78,399,000 after acquiring an additional 121,632 shares in the last quarter. Dearborn Partners LLC increased its holdings in shares of Republic Services by 3.4% in the second quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock worth $28,746,000 after acquiring an additional 14,701 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Republic Services by 2.2% in the second quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after acquiring an additional 418,797 shares in the last quarter. Institutional investors own 60.98% of the company’s stock.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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