Oppenheimer Research Analysts Cut Earnings Estimates for Republic Services, Inc. (RSG)

Republic Services, Inc. (NYSE:RSG) – Oppenheimer lowered their Q3 2018 earnings per share estimates for Republic Services in a research report issued on Friday. Oppenheimer analyst N. Kaye now expects that the business services provider will post earnings per share of $0.81 for the quarter, down from their prior estimate of $0.82. Oppenheimer also issued estimates for Republic Services’ Q4 2018 earnings at $0.77 EPS and FY2019 earnings at $3.53 EPS.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday, January 22nd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $73.00 in a report on Thursday, January 4th. Bank of America boosted their price target on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Credit Suisse Group decreased their price target on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Finally, BMO Capital Markets decreased their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.00.

Republic Services (RSG) opened at $61.96 on Monday. The firm has a market cap of $20,708.58, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.99 and a beta of 0.53. 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 $57.74 and a 1-year high of $69.40.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in shares of Republic Services by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock valued at $342,000 after buying an additional 78 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Republic Services by 2.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,700 shares of the business services provider’s stock valued at $554,000 after buying an additional 220 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Republic Services by 6.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after buying an additional 223 shares in the last quarter. Advisor Partners LLC raised its position in shares of Republic Services by 10.2% during the 4th quarter. Advisor Partners LLC now owns 8,235 shares of the business services provider’s stock valued at $562,000 after buying an additional 760 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Republic Services by 18.7% during the 4th quarter. Raymond James Trust N.A. now owns 5,336 shares of the business services provider’s stock valued at $361,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 59.57% of the company’s stock.

In other Republic Services news, insider Donald W. Slager sold 32,421 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian A. Goebel sold 2,000 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $67.88, for a total transaction of $135,760.00. Following the completion of the sale, the chief accounting officer now owns 6,696 shares in the company, valued at approximately $454,524.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,063 shares of company stock worth $8,816,258. Corporate insiders own 0.40% of the company’s stock.

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 $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.23%. The ex-dividend date is Thursday, March 29th. Republic Services’s payout ratio is currently 36.41%.

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

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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 and Estimates for Republic Services (NYSE:RSG)

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