Republic Services, Inc. (RSG) Releases Earnings Results, Beats Expectations By $0.02 EPS
Republic Services, Inc. (NYSE:RSG) announced its quarterly earnings results on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The business earned $2.38 billion during the quarter, compared to the consensus estimate of $2.36 billion. Republic Services had a net margin of 6.40% and a return on equity of 9.62%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. Republic Services updated its FY17 guidance to $2.32-2.36 EPS.
Shares of Republic Services (NYSE:RSG) opened at 59.05 on Friday. Republic Services has a 12-month low of $45.31 and a 12-month high of $59.19. The firm has a market cap of $20.07 billion, a P/E ratio of 34.33 and a beta of 0.59. The company has a 50-day moving average of $57.46 and a 200 day moving average of $53.62.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.17%. Republic Services’s dividend payout ratio (DPR) is presently 74.85%.
RSG has been the subject of a number of recent analyst reports. Deutsche Bank AG downgraded shares of Republic Services from a “buy” rating to a “hold” rating and raised their price target for the stock from $108.00 to $112.00 in a report on Saturday, October 22nd. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Tuesday, October 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Republic Services in a report on Thursday, October 27th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Republic Services in a report on Tuesday, November 1st. They set a “neutral” rating and a $52.00 price target for the company. Finally, Stifel Nicolaus raised their price target on shares of Republic Services from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.90.
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Several hedge funds have recently made changes to their positions in RSG. Parallel Advisors LLC acquired a new stake in shares of Republic Services during the fourth quarter valued at about $120,000. TLP Group LLC acquired a new stake in shares of Republic Services during the third quarter valued at about $125,000. M&R Capital Management Inc. increased its stake in shares of Republic Services by 120.0% in the fourth quarter. M&R Capital Management Inc. now owns 2,200 shares of the company’s stock valued at $125,000 after buying an additional 1,200 shares during the period. Independent Advisor Alliance acquired a new stake in shares of Republic Services during the fourth quarter valued at about $173,000. Finally, Farmers National Bank acquired a new stake in shares of Republic Services during the second quarter valued at about $183,000. 62.52% of the stock is currently owned by institutional investors.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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