Republic Services, Inc. (NYSE:RSG) – Analysts at First Analysis cut their FY2018 earnings per share estimates for Republic Services in a note issued to investors on Sunday. First Analysis analyst C. Greendale now anticipates that the business services provider will post earnings of $3.08 per share for the year, down from their previous estimate of $3.17.
RSG has been the subject of several other research reports. Credit Suisse Group cut their price objective on Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Monday, January 22nd. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets cut their price objective on Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Finally, Bank of America upped their price objective on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.57.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 29th. Republic Services’s dividend payout ratio is 36.41%.
Republic Services declared that its Board of Directors has approved 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. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In related news, CEO Donald W. Slager sold 98,132 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian A. Goebel sold 2,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $67.88, for a total value of $135,760.00. Following the completion of the sale, the chief accounting officer now directly owns 6,696 shares of the company’s stock, valued at $454,524.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,642 shares of company stock valued at $6,741,314. 0.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Patten Group Inc. increased its position in Republic Services by 279.6% in the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock worth $327,000 after purchasing an additional 13,839 shares during the last quarter. Advisory Services Network LLC increased its position in Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after purchasing an additional 223 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Republic Services by 9.0% in the 3rd 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 purchasing an additional 1,544 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Republic Services in the 3rd quarter worth about $1,897,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Republic Services by 1,040.0% during the 2nd quarter. Macquarie Group Ltd. now owns 5,700 shares of the business services provider’s stock valued at $364,000 after acquiring an additional 5,200 shares during the last quarter. 59.31% of the stock is owned by hedge funds and other institutional investors.
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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.
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