Republic Services (RSG) Issues Quarterly Earnings Results

Republic Services (NYSE:RSG) released its quarterly earnings data on Thursday. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04, Bloomberg Earnings reports. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. Republic Services updated its FY18 guidance to $3.05-3.10 EPS.

Shares of Republic Services (NYSE:RSG) traded down $1.26 during trading on Friday, reaching $61.46. 1,116,007 shares of the company’s stock were exchanged, compared to its average volume of 1,372,542. 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 twelve month low of $57.74 and a twelve month high of $69.40. The firm has a market cap of $21,590.90, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.20 and a beta of 0.53.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.25%. Republic Services’s payout ratio is 58.47%.

Republic Services declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other Republic Services news, 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 transaction of $2,074,944.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian A. Goebel sold 1,220 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total transaction of $83,033.20. Following the transaction, the chief accounting officer now owns 7,406 shares in the company, valued at approximately $504,052.36. The disclosure for this sale can be found here. Insiders have sold a total of 137,063 shares of company stock worth $8,816,258 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Several equities research analysts have recently weighed in on RSG shares. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $73.00 in a research report on Thursday, January 4th. Credit Suisse Group decreased their target price on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. BMO Capital Markets decreased their target price on shares of Republic Services from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Finally, Bank of America increased their target price on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Republic Services currently has an average rating of “Hold” and a consensus price target of $69.00.

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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.

Earnings History for Republic Services (NYSE:RSG)

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