Republic Services, Inc. (NYSE:RSG) – Stock analysts at Oppenheimer decreased their Q3 2019 earnings per share (EPS) estimates for shares of Republic Services in a note issued to investors on Wednesday, October 16th. Oppenheimer analyst N. Kaye now anticipates that the business services provider will post earnings per share of $0.85 for the quarter, down from their prior estimate of $0.88.
A number of other research firms also recently weighed in on RSG. Bank of America raised shares of Republic Services from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Friday, October 18th. ValuEngine downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. started coverage on shares of Republic Services in a research report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 target price for the company. Raymond James set a $93.00 target price on shares of Republic Services and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada set a $91.00 target price on shares of Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.17.
Republic Services stock opened at $87.25 on Monday. Republic Services has a twelve month low of $67.48 and a twelve month high of $90.61. The firm has a 50 day moving average price of $86.81 and a 200-day moving average price of $85.83. The company has a market capitalization of $28.30 billion, a P/E ratio of 28.24, a P/E/G ratio of 3.01 and a beta of 0.49. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.87.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted $0.73 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.405 dividend. The ex-dividend date was Monday, September 30th. This is an increase from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a yield of 1.86%. Republic Services’s dividend payout ratio (DPR) is 52.43%.
In related news, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at approximately $1,287,630. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Donald W. Slager sold 48,891 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $90.00, for a total transaction of $4,400,190.00. Following the completion of the transaction, the chief executive officer now directly owns 333,846 shares of the company’s stock, valued at $30,046,140. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,117 shares of company stock valued at $13,240,530. 0.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sitrin Capital Management LLC bought a new position in Republic Services in the 3rd quarter valued at $5,237,000. Cognios Capital LLC boosted its holdings in Republic Services by 9.4% in the 3rd quarter. Cognios Capital LLC now owns 28,833 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 2,475 shares during the period. Tandem Investment Advisors Inc. boosted its holdings in Republic Services by 4.2% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 227,493 shares of the business services provider’s stock valued at $19,690,000 after purchasing an additional 9,066 shares during the period. OLD National Bancorp IN boosted its holdings in Republic Services by 2.5% in the 3rd quarter. OLD National Bancorp IN now owns 24,596 shares of the business services provider’s stock valued at $2,129,000 after purchasing an additional 595 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in Republic Services by 29.1% in the 3rd quarter. Moors & Cabot Inc. now owns 5,018 shares of the business services provider’s stock valued at $435,000 after purchasing an additional 1,130 shares during the period. 58.87% of the stock is owned by institutional investors.
Republic Services Company Profile
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.
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