Zacks: Brokerages Anticipate Republic Services, Inc. (RSG) Will Announce Earnings of $0.58 Per Share
Equities research analysts expect that Republic Services, Inc. (NYSE:RSG) will announce $0.58 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Republic Services’ earnings, with estimates ranging from $0.56 to $0.62. Republic Services reported earnings per share of $0.57 during the same quarter last year, which suggests a positive year over year growth rate of 1.8%. The company is scheduled to report its next earnings results after the market closes on Thursday, February 8th.
According to Zacks, analysts expect that Republic Services will report full year earnings of $2.40 per share for the current year, with EPS estimates ranging from $2.37 to $2.47. For the next year, analysts expect that the firm will post earnings of $2.58 per share, with EPS estimates ranging from $2.55 to $2.63. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Republic Services.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis.
In related news, CEO Donald W. Slager sold 98,132 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total value of $6,299,093.08. Following the sale, the chief executive officer now owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald W. Slager sold 32,421 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total value of $2,074,944.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,553 shares of company stock worth $8,509,797. Insiders own 0.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Evercore Wealth Management LLC lifted its stake in Republic Services by 48.6% in the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after buying an additional 521 shares in the last quarter. Sun Life Financial INC lifted its stake in Republic Services by 20,900.0% in the 2nd quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,672 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in Republic Services in the 2nd quarter valued at approximately $141,000. Acrospire Investment Management LLC purchased a new stake in Republic Services in the 2nd quarter valued at approximately $191,000. Finally, Cetera Investment Advisers purchased a new stake in Republic Services in the 2nd quarter valued at approximately $211,000. 59.90% of the stock is currently owned by hedge funds and other institutional investors.
Republic Services (NYSE RSG) traded down $0.18 during midday trading on Friday, reaching $68.26. The company’s stock had a trading volume of 1,547,009 shares, compared to its average volume of 1,360,000. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51. Republic Services has a 52 week low of $56.17 and a 52 week high of $69.12. The firm has a market cap of $22,810.00, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.13 and a beta of 0.61.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, December 29th. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services announced that its board has authorized a share repurchase program on Thursday, November 2nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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.
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