According to Zacks, “Republic Services is focused on enhancing its operations by streamlining the cost structure, improving revenue quality and seeking growth through profitable investment opportunities. The company is realigning its field support functions by combining two organizational layers into one and expects these initiatives to contribute about $25 million of annual cost savings from 2018. Republic Services reaffirmed its earlier 2016 adjusted earnings per share and adjusted free cash flow guidance. The company has a positive earnings history in the trailing four quarters. Earnings estimates have also remained steady over the last 30 days. However, it remains exposed to commodity price headwinds and protracted weakness in special waste, industrial volumes and tight municipal budgets, which will likely have a negative impact on earnings. Margins are also expected to remain constrained in the future quarters as well.”
A number of other analysts also recently issued reports on RSG. Barclays PLC increased their price target on shares of Republic Services from $52.00 to $56.00 and gave the stock an overweight rating in a report on Tuesday, August 9th. Macquarie assumed coverage on shares of Republic Services in a report on Thursday, August 25th. They set a neutral rating and a $53.00 price target on the stock. Finally, Imperial Capital increased their price objective on shares of Republic Services from $52.00 to $58.00 and gave the company an outperform rating in a report on Tuesday, August 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $51.70.
Republic Services (NYSE:RSG) opened at 51.21 on Tuesday. Republic Services has a one year low of $40.05 and a one year high of $52.92. The company has a market capitalization of $17.56 billion, a P/E ratio of 24.61 and a beta of 0.59. The company’s 50-day moving average is $50.85 and its 200 day moving average is $49.32.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Republic Services will post $2.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a dividend of $0.32 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, September 29th. Republic Services’s dividend payout ratio (DPR) is presently 57.97%.
In other Republic Services news, CAO Brian A. Goebel sold 1,695 shares of Republic Services stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $52.10, for a total transaction of $88,309.50. Following the completion of the sale, the chief accounting officer now directly owns 6,391 shares in the company, valued at $332,971.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian A. Goebel sold 3,780 shares of Republic Services stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $50.83, for a total transaction of $192,137.40. Following the sale, the chief accounting officer now owns 7,671 shares of the company’s stock, valued at $389,916.93. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Carnick & Kubik Group LLC bought a new stake in shares of Republic Services during the second quarter worth $546,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Republic Services during the second quarter worth $492,000. Kentucky Retirement Systems bought a new stake in shares of Republic Services during the second quarter worth $1,035,000. Mason Street Advisors LLC bought a new stake in shares of Republic Services during the second quarter worth $1,640,000. Finally, Royal Bank of Canada boosted its stake in shares of Republic Services by 44.2% in the second quarter. Royal Bank of Canada now owns 574,501 shares of the company’s stock worth $29,478,000 after buying an additional 176,093 shares in the last quarter. Institutional investors and hedge funds own 61.01% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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