Republic Services, Inc. Expected to Post FY2022 Earnings of $4.35 Per Share (RSG)
Republic Services, Inc. (NYSE:RSG) – Stock analysts at Gabelli issued their FY2022 earnings estimates for shares of Republic Services in a research report issued to clients and investors on Monday. Gabelli analyst T. Bancroft forecasts that the business services provider will earn $4.35 per share for the year.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Friday, October 20th. BMO Capital Markets cut their price objective on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Bank of America lifted their price objective on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. Credit Suisse Group cut their price objective on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $73.00 in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $68.57.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, March 29th. Republic Services’s payout ratio is 36.51%.
Republic Services declared that its board has authorized a share repurchase program on Thursday, November 2nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other Republic Services news, CAO Brian A. Goebel sold 1,220 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $68.06, for a total value of $83,033.20. Following the sale, the chief accounting officer now owns 7,406 shares in the company, valued at approximately $504,052.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Donald W. Slager sold 98,132 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 322,541 shares in the company, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. Insiders sold a total of 104,642 shares of company stock worth $6,741,314 in the last 90 days. Company insiders own 0.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patten Group Inc. raised its stake in shares of Republic Services by 279.6% during the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock worth $327,000 after purchasing an additional 13,839 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Republic Services by 6.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after acquiring an additional 223 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Republic Services by 9.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock worth $1,230,000 after acquiring an additional 1,544 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Republic Services during the 3rd quarter worth approximately $1,897,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Republic Services by 1,040.0% during the 2nd quarter. Macquarie Group Ltd. now owns 5,700 shares of the business services provider’s stock worth $364,000 after acquiring an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 59.31% of the company’s stock.
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About Republic Services
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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