Oppenheimer Holdings Equities Analysts Boost Earnings Estimates for Republic Services, Inc. (RSG)
Republic Services, Inc. (NYSE:RSG) – Equities research analysts at Oppenheimer Holdings lifted their FY2018 earnings per share estimates for shares of Republic Services in a research report issued on Tuesday. Oppenheimer Holdings analyst N. Kaye now anticipates that the business services provider will post earnings per share of $2.69 for the year, up from their prior forecast of $2.66. Oppenheimer Holdings has a “Hold” rating on the stock.
Other equities research analysts also recently issued reports about the company. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price target on shares of Republic Services in a research note on Friday, October 13th. Bank of America Corporation cut their price target on Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Stifel Nicolaus downgraded Republic Services from a “buy” rating to a “hold” rating and cut their price target for the stock from $76.00 to $70.00 in a research note on Wednesday, October 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $71.33.
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Republic Services (RSG) traded up 0.595% during mid-day trading on Wednesday, reaching $63.405. The company’s stock had a trading volume of 443,225 shares. The firm has a 50-day moving average of $65.20 and a 200 day moving average of $64.12. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 32.549 and a beta of 0.60. Republic Services has a 1-year low of $49.44 and a 1-year high of $67.18.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Republic Services by 0.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock valued at $307,000 after acquiring an additional 16 shares during the last quarter. MUFG Americas Holdings Corp increased its holdings in shares of Republic Services by 0.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 4,971 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 20 shares during the last quarter. Blue Chip Partners Inc. increased its holdings in shares of Republic Services by 0.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 4,763 shares of the business services provider’s stock valued at $304,000 after acquiring an additional 25 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in shares of Republic Services by 1.9% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 60 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Republic Services by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 78 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Donald W. Slager sold 22,608 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the transaction, the insider now owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the 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 transaction, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The disclosure for this sale can be found here. Insiders have sold a total of 43,187 shares of company stock valued at $2,854,922 over the last ninety days. Company insiders own 0.40% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.345 per share. The ex-dividend date was Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.19%. Republic Services’s dividend payout ratio (DPR) is 70.77%.
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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