Republic Services, Inc. (NYSE:RSG) – Investment analysts at Oppenheimer Holdings raised their FY2018 earnings per share estimates for shares of Republic Services in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst N. Kaye now forecasts that the business services provider will post earnings of $2.69 per share for the year, up from their previous forecast of $2.66. Oppenheimer Holdings currently has a “Hold” rating on the stock.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business earned $0.55 earnings per share. Republic Services’s quarterly revenue was up 7.5% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC reissued a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, July 14th. BMO Capital Markets upped their price objective on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $71.33.
Republic Services (RSG) traded up 0.44% during trading on Wednesday, reaching $63.27. 440,156 shares of the company’s stock traded hands. The company has a 50-day moving average price of $65.36 and a 200 day moving average price of $64.13. Republic Services has a one year low of $49.44 and a one year high of $67.18. The firm has a market capitalization of $21.31 billion, a PE ratio of 32.48 and a beta of 0.60.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Fund Management S.A. acquired a new position in Republic Services in the second quarter valued at about $12,536,000. Dearborn Partners LLC lifted its position in Republic Services by 3.4% in the second quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock valued at $28,746,000 after buying an additional 14,701 shares during the last quarter. Dynamic Capital Management Ltd acquired a new position in Republic Services in the first quarter valued at about $1,947,000. Royal Bank of Canada lifted its position in Republic Services by 11.0% in the second quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock valued at $78,399,000 after buying an additional 121,632 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Republic Services by 1.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 47,622 shares of the business services provider’s stock valued at $2,991,000 after buying an additional 680 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors.
In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s 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 owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now directly owns 246,617 shares in the company, valued at approximately $16,289,052.85. The disclosure for this sale can be found here. Insiders sold 43,187 shares of company stock valued at $2,854,922 in the last three months. 0.40% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were issued a $0.345 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is currently 70.77%.
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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