Republic Services, Inc. (NYSE:RSG) – Stock analysts at Oppenheimer cut their Q3 2018 earnings estimates for shares of Republic Services in a research note issued to investors on Friday. Oppenheimer analyst N. Kaye now anticipates that the business services provider will post earnings of $0.81 per share for the quarter, down from their previous estimate of $0.82. Oppenheimer also issued estimates for Republic Services’ Q4 2018 earnings at $0.77 EPS and FY2019 earnings at $3.53 EPS.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business 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 company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS.
Several other research analysts have also commented on the stock. Credit Suisse Group cut their price target on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday. BMO Capital Markets cut their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a report on Wednesday, February 7th. Bank of America raised their price target on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $73.00 in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Republic Services presently has an average rating of “Hold” and a consensus price target of $68.57.
Republic Services (NYSE:RSG) traded down $0.21 during midday trading on Monday, reaching $63.07. 139,360 shares of the company traded hands, compared to its average volume of 1,472,135. Republic Services has a 52-week low of $58.06 and a 52-week high of $69.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.51. The stock has a market capitalization of $20,740.59, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53.
Republic Services announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.38 annualized dividend and a yield of 2.19%. Republic Services’s payout ratio is 36.41%.
In other Republic Services news, CAO Brian A. Goebel sold 1,220 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total value of $83,033.20. Following the completion of the sale, the chief accounting officer now owns 7,406 shares of the company’s stock, valued at $504,052.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald W. Slager sold 98,132 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were 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 directly owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. Insiders sold 104,642 shares of company stock worth $6,741,314 in the last 90 days. 0.40% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of RSG. Virtus Fund Advisers LLC grew its position in Republic Services by 1,419.5% in the fourth quarter. Virtus Fund Advisers LLC now owns 1,538,730 shares of the business services provider’s stock valued at $104,561,000 after acquiring an additional 1,437,464 shares in the last quarter. OppenheimerFunds Inc. grew its position in Republic Services by 86.2% in the fourth quarter. OppenheimerFunds Inc. now owns 2,335,645 shares of the business services provider’s stock valued at $157,913,000 after acquiring an additional 1,081,097 shares in the last quarter. American Century Companies Inc. grew its position in Republic Services by 5.4% in the fourth quarter. American Century Companies Inc. now owns 7,882,739 shares of the business services provider’s stock valued at $532,952,000 after acquiring an additional 405,985 shares in the last quarter. Geode Capital Management LLC grew its position in Republic Services by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 2,884,821 shares of the business services provider’s stock valued at $194,696,000 after acquiring an additional 285,988 shares in the last quarter. Finally, PGGM Investments grew its position in Republic Services by 116.3% in the third quarter. PGGM Investments now owns 516,174 shares of the business services provider’s stock valued at $34,098,000 after acquiring an additional 277,585 shares in the last quarter. 59.31% of the stock is owned by institutional investors.
WARNING: This article was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/02/14/brokers-offer-predictions-for-republic-services-inc-s-q3-2018-earnings-rsg.html.
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.
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.