FY2019 Earnings Forecast for Republic Services, Inc. Issued By Gabelli (RSG)
Republic Services, Inc. (NYSE:RSG) – Stock analysts at Gabelli reduced their FY2019 EPS estimates for Republic Services in a research note issued to investors on Friday. Gabelli analyst T. Bancroft now anticipates that the business services provider will post earnings of $2.80 per share for the year, down from their prior estimate of $2.85.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS.
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Several other research firms have also commented on RSG. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC reaffirmed a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Friday, July 14th. BMO Capital Markets lifted their price objective on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $67.71.
Shares of Republic Services (NYSE:RSG) traded up $0.59 during trading hours on Monday, hitting $64.14. 1,768,025 shares of the company were exchanged, compared to its average volume of 1,330,000. Republic Services has a 1-year low of $51.59 and a 1-year high of $67.18. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93. The firm has a market cap of $21,340.00, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a $0.345 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.15%. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services declared that its board has approved a stock buyback plan on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, EVP Catharine D. Ellingsen sold 14,250 shares of Republic Services stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.02, for a total value of $940,785.00. Following the transaction, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at $528,622.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares in the company, valued at $28,462. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,187 shares of company stock worth $2,854,922. 0.40% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Republic Services by 0.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock worth $307,000 after acquiring an additional 16 shares in the last quarter. MUFG Americas Holdings Corp lifted its stake in shares of Republic Services by 0.4% in the second quarter. MUFG Americas Holdings Corp now owns 4,971 shares of the business services provider’s stock worth $317,000 after buying an additional 20 shares during the last quarter. Blue Chip Partners Inc. lifted its stake in shares of Republic Services by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 4,763 shares of the business services provider’s stock worth $304,000 after buying an additional 25 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its stake in shares of Republic Services by 1.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock worth $210,000 after buying an additional 60 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in 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 purchasing an additional 78 shares during the last quarter. 60.71% of the stock is currently owned by institutional investors and hedge funds.
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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