$2.50 Billion in Sales Expected for Republic Services, Inc. (RSG) This Quarter
Analysts expect Republic Services, Inc. (NYSE:RSG) to report sales of $2.50 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Republic Services’ earnings. The lowest sales estimate is $2.48 billion and the highest is $2.51 billion. Republic Services reported sales of $2.43 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The business is expected to announce its next earnings results after the market closes on Thursday, April 25th.
According to Zacks, analysts expect that Republic Services will report full year sales of $10.47 billion for the current year, with estimates ranging from $10.44 billion to $10.51 billion. For the next fiscal year, analysts forecast that the firm will post sales of $10.89 billion, with estimates ranging from $10.84 billion to $10.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Republic Services.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. Republic Services had a net margin of 10.33% and a return on equity of 12.84%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year.
Shares of NYSE:RSG traded up $0.44 during trading on Friday, reaching $79.04. The company’s stock had a trading volume of 1,077,376 shares, compared to its average volume of 1,273,757. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.96. Republic Services has a 12 month low of $64.13 and a 12 month high of $81.20. The company has a market cap of $25.28 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.76 and a beta of 0.58.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, March 29th. Republic Services’s payout ratio is currently 48.54%.
In other Republic Services news, Director Tomago Collins sold 4,102 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $80.59, for a total value of $330,580.18. Following the completion of the sale, the director now owns 14,821 shares of the company’s stock, valued at $1,194,424.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ramon A. Rodriguez sold 5,480 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $79.75, for a total transaction of $437,030.00. The disclosure for this sale can be found here. In the last three months, insiders sold 19,700 shares of company stock valued at $1,581,097. 0.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in RSG. Matthew Goff Investment Advisor LLC lifted its stake in Republic Services by 2,317.5% in the third quarter. Matthew Goff Investment Advisor LLC now owns 12,266,686 shares of the business services provider’s stock worth $507,412,000 after purchasing an additional 11,759,274 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Republic Services by 13,200.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock worth $46,000 after acquiring an additional 3,294,212 shares during the period. Norges Bank purchased a new position in shares of Republic Services during the fourth quarter worth approximately $216,948,000. BlackRock Inc. increased its position in shares of Republic Services by 8.4% during the fourth quarter. BlackRock Inc. now owns 20,563,044 shares of the business services provider’s stock worth $1,482,389,000 after acquiring an additional 1,600,885 shares during the period. Finally, Pactiv General Employee Benefit Trust purchased a new position in shares of Republic Services during the fourth quarter worth approximately $60,271,000. 60.75% of the stock is owned by institutional investors and hedge funds.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
Featured Article: What is the strike price in options trading?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.