$2.47 Billion in Sales Expected for Republic Services, Inc. (NYSE:RSG) This Quarter
Wall Street analysts forecast that Republic Services, Inc. (NYSE:RSG) will post $2.47 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Republic Services’ earnings. The lowest sales estimate is $2.45 billion and the highest is $2.49 billion. Republic Services reported sales of $2.35 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Republic Services will report full year sales of $2.47 billion for the current year, with estimates ranging from $9.85 billion to $9.90 billion. For the next fiscal year, analysts forecast that the business will post sales of $10.26 billion per share, with estimates ranging from $10.17 billion to $10.33 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Republic Services.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Republic Services had a net margin of 6.75% and a return on equity of 10.18%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year.
Several research analysts recently issued reports on RSG shares. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, May 2nd. Stifel Nicolaus reissued a “buy” rating and set a $73.00 target price on shares of Republic Services in a report on Wednesday, July 19th. Credit Suisse Group set a $63.00 target price on shares of Republic Services and gave the stock a “hold” rating in a report on Sunday, April 30th. Finally, Barclays PLC reissued a “hold” rating and set a $59.00 target price on shares of Republic Services in a report on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Republic Services presently has a consensus rating of “Hold” and an average target price of $67.90.
A number of hedge funds have recently added to or reduced their stakes in RSG. BlackRock Inc. raised its stake in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after buying an additional 18,401,448 shares in the last quarter. Vanguard Group Inc. raised its stake in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after buying an additional 1,086,931 shares in the last quarter. Renaissance Technologies LLC raised its stake in Republic Services by 329.6% in the first quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock valued at $54,959,000 after buying an additional 671,300 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Republic Services during the first quarter valued at approximately $39,751,000. Finally, State Street Corp raised its stake in Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after buying an additional 501,491 shares in the last quarter. Institutional investors own 61.48% of the company’s stock.
Shares of Republic Services (NYSE RSG) traded down 0.05% during midday trading on Wednesday, hitting $64.95. 58,464 shares of the stock were exchanged. Republic Services has a 12 month low of $49.18 and a 12 month high of $65.34. The firm’s 50-day moving average is $64.24 and its 200-day moving average is $61.84. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 34.55 and a beta of 0.59.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were given a dividend of $0.32 per share. The ex-dividend date was Thursday, June 29th. This represents a $1.28 annualized dividend and a yield of 1.97%. Republic Services’s dividend payout ratio is presently 68.45%.
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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