Zacks: Analysts Anticipate Republic Services (RSG) Will Announce Quarterly Sales of $2.42 Billion

Wall Street analysts forecast that Republic Services (NYSE:RSG) will post $2.42 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Republic Services’ earnings. The lowest sales estimate is $2.41 billion and the highest is $2.43 billion. Republic Services reported sales of $2.39 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Republic Services will report full-year sales of $2.42 billion for the current fiscal year, with estimates ranging from $10.05 billion to $10.12 billion. For the next year, analysts forecast that the firm will post sales of $10.53 billion per share, with estimates ranging from $10.46 billion to $10.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Republic Services.

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Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.

Several equities research analysts recently commented on the company. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. UBS assumed coverage on Republic Services in a research report on Wednesday, March 14th. They set a “buy” rating and a $78.00 target price on the stock. Credit Suisse Group cut their target price on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. BMO Capital Markets cut their target price on Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Finally, Bank of America upped their target price on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $70.29.

Shares of Republic Services stock traded down $0.67 on Tuesday, hitting $67.45. 312,070 shares of the company’s stock traded hands, compared to its average volume of 1,793,108. Republic Services has a one year low of $60.26 and a one year high of $69.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $22,443.03, a price-to-earnings ratio of 27.77, a PEG ratio of 2.15 and a beta of 0.54.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, March 29th. Republic Services’s dividend payout ratio (DPR) is currently 56.79%.

In related news, COO Ark Jon Vander sold 9,236 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $68.45, for a total transaction of $632,204.20. Following the transaction, the chief operating officer now directly owns 12,011 shares of the company’s stock, valued at approximately $822,152.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ramon A. Rodriguez sold 8,118 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $66.62, for a total value of $540,821.16. Following the transaction, the director now directly owns 4,118 shares in the company, valued at $274,341.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,364 shares of company stock worth $2,050,341. 0.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Chemical Bank purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $346,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Republic Services by 25.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,361 shares of the business services provider’s stock worth $362,000 after purchasing an additional 1,101 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Republic Services by 10.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 22,218 shares of the business services provider’s stock worth $1,502,000 after purchasing an additional 2,042 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Republic Services by 6.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 302,185 shares of the business services provider’s stock worth $20,430,000 after purchasing an additional 17,735 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Republic Services by 0.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 178,873 shares of the business services provider’s stock worth $12,094,000 after purchasing an additional 1,313 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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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.

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