Republic Services, Inc. (NYSE:RSG) – Research analysts at First Analysis dropped their FY2018 EPS estimates for Republic Services in a report issued on Sunday. First Analysis analyst C. Greendale now forecasts that the business services provider will post earnings of $3.08 per share for the year, down from their previous estimate of $3.17.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Credit Suisse Group decreased their price objective on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. BMO Capital Markets decreased their price objective on shares of Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Finally, Bank of America boosted their price objective on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.57.
Republic Services (NYSE:RSG) traded down $0.56 during trading on Wednesday, hitting $63.96. 658,240 shares of the company traded hands, compared to its average volume of 1,512,849. Republic Services has a 1-year low of $58.60 and a 1-year high of $69.40. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. The stock has a market cap of $20,959.19, a price-to-earnings ratio of 16.93, a PEG ratio of 2.01 and a beta of 0.54.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 29th. Republic Services’s dividend payout ratio is currently 36.41%.
Republic Services declared that its board has approved a stock buyback plan on Thursday, November 2nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, CEO Donald W. Slager sold 98,132 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 1,220 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $504,052.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,642 shares of company stock valued at $6,741,314. Corporate insiders own 0.40% of the company’s stock.
Large investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Republic Services during the 4th quarter worth about $121,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Republic Services by 507.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock worth $123,000 after acquiring an additional 1,523 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Republic Services by 1,070.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock worth $199,000 after acquiring an additional 2,686 shares during the period. Focused Wealth Management Inc purchased a new position in Republic Services in the 4th quarter worth approximately $199,000. Finally, Welch & Forbes LLC purchased a new position in Republic Services in the 4th quarter worth approximately $201,000. Institutional investors and hedge funds 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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