Republic Services, Inc. (RSG) Issues Earnings Results, Beats Estimates By $0.04 EPS
Republic Services, Inc. (NYSE:RSG) issued its quarterly earnings data on Thursday. The business services provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04, Bloomberg Earnings reports. The company 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 6.86% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Republic Services updated its FY18 guidance to $2.53-$2.58 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.12%. Republic Services’s dividend payout ratio is currently 70.77%.
A number of research analysts recently weighed in on RSG shares. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Friday, July 14th. Stifel Nicolaus restated a “buy” rating and set a $73.00 price objective on shares of Republic Services in a research report on Wednesday, July 19th. BMO Capital Markets increased 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. Barclays PLC restated a “neutral” rating on shares of Republic Services in a research report on Friday, July 28th. Finally, Credit Suisse Group AG set a $69.00 price objective on shares of Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $68.29.
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In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the completion of the sale, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at $528,622.14. The disclosure for this sale can be found here. Insiders sold 43,187 shares of company stock valued at $2,854,922 over the last three months. 0.40% of the stock is currently owned by insiders.
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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