Analysts forecast that Republic Services, Inc. (NYSE:RSG) will report sales of $2.59 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for Republic Services' earnings, with estimates ranging from $2.56 billion to $2.64 billion. Republic Services posted sales of $2.65 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.3%. The business is scheduled to issue its next earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Republic Services will report full-year sales of $10.16 billion for the current fiscal year, with estimates ranging from $10.09 billion to $10.25 billion. For the next financial year, analysts expect that the business will report sales of $10.64 billion, with estimates ranging from $10.42 billion to $10.75 billion. Zacks' sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Republic Services.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.21. The business had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.38 billion. Republic Services had a net margin of 10.35% and a return on equity of 13.41%. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share.
A number of analysts have recently commented on RSG shares. Zacks Investment Research upgraded shares of Republic Services from a "hold" rating to a "buy" rating and set a $92.00 price target for the company in a research note on Monday, July 20th. Argus lifted their price target on shares of Republic Services from $95.00 to $102.00 in a research note on Thursday, August 27th. Oppenheimer reiterated a "buy" rating on shares of Republic Services in a research note on Monday, August 10th. Robert W. Baird started coverage on shares of Republic Services in a research note on Thursday, May 28th. They issued an "outperform" rating and a $90.00 price target for the company. Finally, Raymond James lifted their price target on shares of Republic Services from $91.00 to $97.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of "Buy" and a consensus target price of $91.07.
Shares of Republic Services stock opened at $96.44 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $30.72 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 3.85 and a beta of 0.62. Republic Services has a 52-week low of $65.37 and a 52-week high of $100.91. The company has a 50-day simple moving average of $91.22 and a two-hundred day simple moving average of $84.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.70 annualized dividend and a yield of 1.76%. This is an increase from Republic Services's previous quarterly dividend of $0.41. Republic Services's payout ratio is currently 48.50%.
In other news, CEO Donald W. Slager sold 80,439 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.63, for a total value of $7,370,625.57. Following the transaction, the chief executive officer now owns 370,708 shares of the company's stock, valued at $33,967,974.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tomago Collins sold 4,940 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $81.58, for a total transaction of $403,005.20. Following the completion of the transaction, the director now directly owns 9,879 shares in the company, valued at approximately $805,928.82. The disclosure for this sale can be found here. Insiders have sold 150,358 shares of company stock worth $13,746,268 in the last ninety days. Insiders own 0.20% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its holdings in shares of Republic Services by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,140 shares of the business services provider's stock worth $258,000 after buying an additional 123 shares in the last quarter. PAX Financial Group LLC raised its stake in Republic Services by 2.5% during the second quarter. PAX Financial Group LLC now owns 5,006 shares of the business services provider's stock valued at $411,000 after purchasing an additional 124 shares in the last quarter. Leisure Capital Management raised its stake in Republic Services by 1.2% during the second quarter. Leisure Capital Management now owns 10,557 shares of the business services provider's stock valued at $866,000 after purchasing an additional 124 shares in the last quarter. Strategy Asset Managers LLC raised its stake in Republic Services by 1.9% during the second quarter. Strategy Asset Managers LLC now owns 7,012 shares of the business services provider's stock valued at $575,000 after purchasing an additional 128 shares in the last quarter. Finally, Brinker Capital Inc. raised its stake in Republic Services by 0.5% during the second quarter. Brinker Capital Inc. now owns 27,765 shares of the business services provider's stock valued at $2,283,000 after purchasing an additional 133 shares in the last quarter. 57.21% of the stock is currently owned by hedge funds and other institutional investors.
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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