Republic Services, Inc. (NYSE:RSG) – Investment analysts at Gabelli raised their FY2018 earnings per share estimates for shares of Republic Services in a research report issued to clients and investors on Monday. Gabelli analyst T. Bancroft now anticipates that the business services provider will post earnings per share of $3.10 for the year, up from their previous forecast of $2.60. Gabelli also issued estimates for Republic Services’ FY2019 earnings at $3.50 EPS, FY2020 earnings at $3.75 EPS and FY2021 earnings at $4.05 EPS.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business 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 10.61% and a net margin of 12.73%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share.
Shares of Republic Services (NYSE:RSG) traded up $0.27 during midday trading on Wednesday, hitting $63.55. The stock had a trading volume of 318,620 shares, compared to its average volume of 1,473,127. Republic Services has a twelve month low of $58.06 and a twelve month high of $69.40. The stock has a market capitalization of $20,740.59, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.51 and a current ratio of 0.55.
Large investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in Republic Services during the fourth quarter valued at $121,000. Benjamin F. Edwards & Company Inc. increased its position in Republic Services by 507.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock worth $123,000 after purchasing an additional 1,523 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Republic Services by 1,070.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock worth $199,000 after purchasing an additional 2,686 shares during the last quarter. Focused Wealth Management Inc acquired a new position in Republic Services in the 4th quarter worth about $199,000. Finally, Welch & Forbes LLC acquired a new position in Republic Services in the 4th quarter worth about $201,000. 59.31% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CAO Brian A. Goebel sold 1,220 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 7,406 shares of the company’s stock, valued at $504,052.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brian A. Goebel sold 2,000 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.88, for a total value of $135,760.00. Following the transaction, the chief accounting officer now directly owns 6,696 shares in the company, valued at $454,524.48. The disclosure for this sale can be found here. Insiders have sold 104,642 shares of company stock worth $6,741,314 over the last three months. 0.40% of the stock is owned by insiders.
Republic Services declared that its Board of Directors has authorized a stock 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, March 29th. Republic Services’s payout ratio is 36.41%.
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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