Zacks: Analysts Expect Republic Services, Inc. (RSG) Will Announce Quarterly Sales of $2.54 Billion
Brokerages expect that Republic Services, Inc. (NYSE:RSG) will post sales of $2.54 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Republic Services’ earnings. The highest sales estimate is $2.55 billion and the lowest is $2.52 billion. Republic Services reported sales of $2.41 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The company is expected to announce its next earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Republic Services will report full-year sales of $2.54 billion for the current financial year, with estimates ranging from $9.85 billion to $10.00 billion. For the next year, analysts forecast that the business will report sales of $10.35 billion per share, with estimates ranging from $10.30 billion to $10.52 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Republic Services.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS.
Several research firms recently commented on RSG. Zacks Investment Research cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BMO Capital Markets assumed coverage on shares of Republic Services in a report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 target price on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $71.88.
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Shares of Republic Services (NYSE:RSG) traded up 0.17% on Tuesday, reaching $66.26. 634,777 shares of the company’s stock traded hands. Republic Services has a 52 week low of $49.18 and a 52 week high of $66.98. The firm has a market capitalization of $22.31 billion, a P/E ratio of 34.01 and a beta of 0.60. The company’s 50-day moving average is $64.99 and its 200-day moving average is $63.81.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.345 dividend. The ex-dividend date is Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.08%. Republic Services’s dividend payout ratio (DPR) is currently 65.64%.
In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in RSG. Evercore Wealth Management LLC lifted its holdings in shares of Republic Services by 48.6% during the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after buying an additional 521 shares in the last quarter. Sun Life Financial INC raised its stake in Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,672 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in Republic Services in the second quarter valued at about $141,000. Whittier Trust Co. of Nevada Inc. raised its stake in Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in Republic Services in the second quarter valued at about $191,000. 60.57% of the stock is owned by hedge funds and other institutional investors.
Republic Services Company Profile
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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