FY2017 Earnings Forecast for Republic Services, Inc. Issued By First Analysis (RSG)
Republic Services, Inc. (NYSE:RSG) – Research analysts at First Analysis upped their FY2017 EPS estimates for Republic Services in a research note issued to investors on Thursday. First Analysis analyst C. Greendale now anticipates that the business services provider will post earnings of $2.40 per share for the year, up from their prior forecast of $2.38. First Analysis also issued estimates for Republic Services’ Q4 2017 earnings at $0.58 EPS.
Several other research analysts have also commented on RSG. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets cut their price target on shares of Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Zacks Investment Research lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Credit Suisse Group cut their price target on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 6th. Finally, Bank of America cut their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $68.14.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS.
Republic Services announced that its board has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were issued a $0.345 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.03%. Republic Services’s payout ratio is 58.47%.
In other Republic Services news, CAO Brian A. Goebel sold 1,290 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $68.44, for a total value of $88,287.60. Following the completion of the sale, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at $458,274.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald W. Slager sold 32,421 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total transaction of $2,074,944.00. The disclosure for this sale can be found here. Insiders sold 135,843 shares of company stock worth $8,733,225 in the last 90 days. 0.40% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of RSG. Evercore Wealth Management LLC grew its position in Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 521 shares in the last quarter. Sun Life Financial INC grew its position in Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,672 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Republic Services by 507.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 1,523 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Republic Services in the second quarter valued at approximately $211,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Republic Services in the second quarter valued at approximately $224,000. 59.97% of the stock is owned by institutional investors.
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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