Brokerages Expect Republic Services, Inc. (RSG) Will Post Quarterly Sales of $2.50 Billion
Analysts expect that Republic Services, Inc. (NYSE:RSG) will report sales of $2.50 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Republic Services’ earnings. The lowest sales estimate is $2.46 billion and the highest is $2.52 billion. Republic Services posted sales of $2.38 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The company is scheduled to report its next quarterly earnings report on Thursday, February 15th.
On average, analysts expect that Republic Services will report full year sales of $2.50 billion for the current financial year, with estimates ranging from $9.85 billion to $10.00 billion. For the next year, analysts forecast that the company will post sales of $10.40 billion per share, with estimates ranging from $10.31 billion to $10.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Republic Services.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm posted $0.62 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis.
Shares of Republic Services (NYSE RSG) traded up $0.81 during mid-day trading on Tuesday, hitting $65.03. 1,714,900 shares of the company traded hands, compared to its average volume of 1,142,335. The company has a market cap of $21,463.90, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 3.16 and a beta of 0.60. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93. Republic Services has a 1-year low of $55.07 and a 1-year high of $67.18.
Republic Services announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, December 29th. Republic Services’s payout ratio is 58.47%.
In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now owns 428 shares in the company, valued at approximately $28,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald W. Slager sold 98,132 shares of Republic Services 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 of the company’s stock, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. Insiders sold a total of 173,740 shares of company stock valued at $11,228,959 in the last quarter. Corporate insiders own 0.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP raised its position in shares of Republic Services by 39.4% in the 3rd quarter. GSA Capital Partners LLP now owns 23,340 shares of the business services provider’s stock valued at $1,542,000 after buying an additional 6,599 shares in the last quarter. Gyroscope Capital Management Group LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at approximately $322,000. IFM Investors Pty Ltd acquired a new position in shares of Republic Services in the 3rd quarter valued at approximately $467,000. California Public Employees Retirement System raised its position in shares of Republic Services by 2.1% in the 3rd quarter. California Public Employees Retirement System now owns 920,619 shares of the business services provider’s stock valued at $60,816,000 after buying an additional 19,306 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Republic Services by 20.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,821 shares of the business services provider’s stock valued at $517,000 after buying an additional 1,339 shares in the last quarter. Institutional investors and hedge funds own 60.01% of the company’s stock.
Republic Services Company Profile
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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