FY2019 EPS Estimates for Republic Services, Inc. Reduced by Analyst (RSG)
Republic Services, Inc. (NYSE:RSG) – Stock analysts at Oppenheimer reduced their FY2019 earnings per share estimates for shares of Republic Services in a research note issued on Thursday, October 18th, Zacks Investment Research reports. Oppenheimer analyst N. Kaye now forecasts that the business services provider will post earnings of $3.28 per share for the year, down from their previous estimate of $3.30. Oppenheimer has a “Hold” rating on the stock.
Several other equities research analysts also recently commented on RSG. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. BMO Capital Markets lowered their price objective on shares of Republic Services from $79.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Bank of America lifted their price objective on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $73.71.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank purchased a new position in Republic Services in the third quarter valued at $119,000. Braun Bostich & Associates Inc. increased its holdings in Republic Services by 531.6% in the second quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock valued at $124,000 after buying an additional 1,531 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Republic Services by 57.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock valued at $132,000 after buying an additional 704 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Republic Services in the second quarter valued at $178,000. Finally, Cerebellum GP LLC purchased a new position in Republic Services in the third quarter valued at $186,000. 60.89% of the stock is owned by institutional investors.
In other Republic Services news, insider Donald W. Slager sold 225,734 shares of Republic Services stock in a transaction on Monday, August 13th. The shares were sold at an average price of $73.02, for a total value of $16,483,096.68. Following the completion of the transaction, the insider now owns 378,023 shares of the company’s stock, valued at $27,603,239.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer M. Kirk acquired 1,500 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was purchased at an average cost of $72.35 per share, with a total value of $108,525.00. Following the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $108,525. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 annualized dividend and a dividend yield of 2.01%. Republic Services’s dividend payout ratio (DPR) is presently 61.73%.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
Further Reading: What is an Initial Public Offering (IPO)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.