Republic Services, Inc. (RSG) Expected to Post Quarterly Sales of $2.50 Billion

Wall Street brokerages forecast that Republic Services, Inc. (NYSE:RSG) will announce $2.50 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Republic Services’ earnings. The highest sales estimate is $2.51 billion and the lowest is $2.50 billion. Republic Services reported sales of $2.39 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The firm is scheduled to report its next earnings report on Thursday, April 26th.

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 $10.33 billion to $10.52 billion. For the next fiscal year, analysts anticipate that the business will report sales of $10.90 billion per share, with estimates ranging from $10.81 billion to $10.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Republic Services.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a return on equity of 10.71% and a net margin of 12.73%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. BMO Capital Markets dropped their price objective on Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday. Credit Suisse Group dropped their price objective on Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Finally, Bank of America upped their price objective on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $69.00.

In other Republic Services news, CAO Brian A. Goebel sold 1,220 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $68.06, for a total transaction of $83,033.20. Following the sale, the chief accounting officer now directly owns 7,406 shares in the company, valued at $504,052.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Brian A. Goebel sold 1,290 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $68.44, for a total value of $88,287.60. Following the sale, the chief accounting officer now owns 6,696 shares in the company, valued at $458,274.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,063 shares of company stock worth $8,816,258. Company insiders own 0.40% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Patten Group Inc. raised its position in Republic Services by 279.6% during the third quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 13,839 shares during the period. Advisory Services Network LLC raised its holdings in shares of Republic Services by 6.3% in the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after buying an additional 223 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Republic Services by 9.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock worth $1,230,000 after buying an additional 1,544 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Republic Services in the third quarter worth approximately $1,897,000. Finally, Macquarie Group Ltd. raised its holdings in shares of Republic Services by 1,040.0% in the second quarter. Macquarie Group Ltd. now owns 5,700 shares of the business services provider’s stock worth $364,000 after buying an additional 5,200 shares during the period. Institutional investors and hedge funds own 59.57% of the company’s stock.

Republic Services (NYSE:RSG) opened at $61.96 on Friday. The firm has a market capitalization of $20,962.56, a PE ratio of 16.35, a PEG ratio of 2.01 and a beta of 0.53. 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 one year low of $57.74 and a one year high of $69.40.

Republic Services announced that its Board of Directors has initiated a share repurchase 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 purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a $0.345 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.23%. Republic Services’s dividend payout ratio is currently 36.41%.

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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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