Brokers Offer Predictions for Republic Services, Inc.’s Q3 2018 Earnings (RSG)

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.

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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.

Earnings History and Estimates for Republic Services (NYSE:RSG)

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