Republic Services, Inc. Forecasted to Post Q3 2017 Earnings of $0.63 Per Share (RSG)
Republic Services, Inc. (NYSE:RSG) – Analysts at Oppenheimer Holdings dropped their Q3 2017 EPS estimates for Republic Services in a report released on Tuesday. Oppenheimer Holdings analyst N. Kaye now forecasts that the business services provider will post earnings of $0.63 per share for the quarter, down from their previous estimate of $0.64. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Republic Services’ FY2017 earnings at $2.37 EPS.
Republic Services (NYSE:RSG) last posted 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS.
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Several other equities analysts have also recently commented on RSG. BMO Capital Markets initiated coverage on shares of Republic Services in a research note on Thursday, June 29th. They set an “outperform” rating and a $71.00 price objective for the company. Zacks Investment Research cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Barclays PLC reaffirmed a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Finally, Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $71.33.
Shares of Republic Services (NYSE:RSG) opened at 64.19 on Thursday. The company’s 50 day moving average is $65.13 and its 200 day moving average is $64.13. Republic Services has a 52-week low of $50.15 and a 52-week high of $67.18. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 32.95 and a beta of 0.60.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Republic Services by 6.4% in the 2nd quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock worth $1,292,589,000 after buying an additional 1,223,613 shares in the last quarter. Vanguard Group Inc. grew its stake in Republic Services by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after buying an additional 418,797 shares in the last quarter. State Street Corp grew its stake in Republic Services by 4.5% in the 1st quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after buying an additional 501,491 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Republic Services by 6.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock worth $434,002,000 after buying an additional 388,147 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Republic Services by 8.3% in the 2nd quarter. Wells Fargo & Company MN now owns 5,087,694 shares of the business services provider’s stock worth $324,239,000 after buying an additional 391,482 shares in the last quarter. 60.50% of the stock is owned by institutional investors and hedge funds.
In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 428 shares of the company’s stock, valued at approximately $28,462. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the completion of the transaction, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at approximately $528,622.14. The disclosure for this sale can be found here. In the last three months, insiders sold 43,187 shares of company stock valued at $2,854,922. Corporate insiders own 0.40% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s payout ratio is currently 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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