Republic Services (NYSE:RSG) Announces Quarterly Earnings Results

Republic Services (NYSE:RSGGet Rating) issued its quarterly earnings data on Thursday. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09, MarketWatch Earnings reports. Republic Services had a net margin of 11.42% and a return on equity of 15.04%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the firm posted $0.93 EPS. Republic Services’s revenue for the quarter was up 14.4% on a year-over-year basis.

Shares of RSG traded up $4.86 on Friday, hitting $135.19. 2,450,244 shares of the stock traded hands, compared to its average volume of 1,158,843. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $42.69 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.88 and a beta of 0.75. The stock’s 50 day moving average is $131.56 and its two-hundred day moving average is $131.20. Republic Services has a 1 year low of $106.46 and a 1 year high of $145.98.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, June 30th. Republic Services’s payout ratio is 43.60%.

RSG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Republic Services from $142.00 to $139.00 and set a “hold” rating on the stock in a research report on Monday, February 14th. StockNews.com began coverage on shares of Republic Services in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of Republic Services in a report on Tuesday, March 1st. They issued a “neutral” rating on the stock. Raymond James boosted their price objective on shares of Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Finally, Morgan Stanley lifted their target price on shares of Republic Services from $139.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 8th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $134.86.

In other news, major shareholder Cascade Investment, L.L.C. acquired 259,085 shares of Republic Services stock in a transaction that occurred on Tuesday, February 22nd. The shares were acquired at an average price of $117.03 per share, with a total value of $30,320,717.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 710,420 shares of company stock worth $83,099,992 in the last three months. Insiders own 0.06% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY increased its position in Republic Services by 15.6% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 23,745 shares of the business services provider’s stock worth $3,311,000 after purchasing an additional 3,213 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Republic Services by 148.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,927 shares of the business services provider’s stock worth $2,918,000 after purchasing an additional 12,509 shares during the last quarter. Allstate Corp increased its position in Republic Services by 98.8% during the fourth quarter. Allstate Corp now owns 20,511 shares of the business services provider’s stock worth $2,860,000 after purchasing an additional 10,193 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Republic Services by 18.5% in the fourth quarter. Glenmede Trust Co. NA now owns 15,746 shares of the business services provider’s stock worth $2,195,000 after acquiring an additional 2,462 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Republic Services by 13.4% in the fourth quarter. NewEdge Advisors LLC now owns 14,978 shares of the business services provider’s stock worth $2,088,000 after acquiring an additional 1,772 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

About Republic Services (Get Rating)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

See Also

Earnings History for Republic Services (NYSE:RSG)

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