Republic Services, Inc. (RSG) to Post Q4 2017 Earnings of $0.56 Per Share, Oppenheimer Forecasts
Republic Services, Inc. (NYSE:RSG) – Investment analysts at Oppenheimer reduced their Q4 2017 earnings estimates for Republic Services in a research report issued to clients and investors on Wednesday. Oppenheimer analyst N. Kaye now expects that the business services provider will earn $0.56 per share for the quarter, down from their prior estimate of $0.58. Oppenheimer also issued estimates for Republic Services’ Q1 2018 earnings at $0.71 EPS.
RSG has been the topic of several other research reports. Credit Suisse Group cut their price target on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Monday, January 22nd. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. BMO Capital Markets cut their price target on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Finally, Bank of America upped their price target on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.00.
Republic Services declared that its board has initiated a share buyback program on Thursday, November 2nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other Republic Services news, insider Donald W. Slager sold 32,421 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $64.00, for a total transaction of $2,074,944.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Donald W. Slager sold 98,132 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total value of $6,299,093.08. Following the sale, the chief executive officer now owns 322,541 shares in the company, valued at $20,703,906.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,063 shares of company stock worth $8,816,258. Company insiders own 0.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Ffcm LLC boosted its stake in shares of Republic Services by 20.2% in the 4th quarter. Ffcm LLC now owns 8,934 shares of the business services provider’s stock worth $603,000 after buying an additional 1,502 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Republic Services by 2.3% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 37,689 shares of the business services provider’s stock worth $2,548,000 after buying an additional 852 shares during the last quarter. Wealthstreet Investment Advisors LLC purchased a new position in shares of Republic Services in the 4th quarter worth $264,000. KBC Group NV boosted its stake in shares of Republic Services by 2.1% in the 4th quarter. KBC Group NV now owns 127,635 shares of the business services provider’s stock worth $8,630,000 after buying an additional 2,682 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Republic Services by 2.2% in the 4th quarter. Swiss National Bank now owns 1,923,748 shares of the business services provider’s stock worth $130,065,000 after buying an additional 42,100 shares during the last quarter. Hedge funds and other institutional investors own 59.57% of the company’s stock.
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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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