Zacks: Analysts Anticipate Republic Services, Inc. (NYSE:RSG) Will Post Quarterly Sales of $2.61 Billion


Share on StockTwits

Brokerages expect Republic Services, Inc. (NYSE:RSG) to post $2.61 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Republic Services’ earnings, with the lowest sales estimate coming in at $2.59 billion and the highest estimate coming in at $2.65 billion. Republic Services reported sales of $2.55 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that Republic Services will report full year sales of $10.82 billion for the current year, with estimates ranging from $10.74 billion to $10.93 billion. For the next year, analysts anticipate that the business will post sales of $11.28 billion, with estimates ranging from $11.07 billion to $11.43 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Republic Services.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Sunday, February 21st. The business services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.18. Republic Services had a return on equity of 13.59% and a net margin of 10.05%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year.

RSG has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Republic Services from $99.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, March 1st. BMO Capital Markets dropped their target price on Republic Services from $107.00 to $102.00 and set an “outperform” rating on the stock in a report on Tuesday, March 2nd. Robert W. Baird lowered Republic Services from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $103.00 to $96.00 in a report on Tuesday, February 16th. The Goldman Sachs Group initiated coverage on Republic Services in a report on Tuesday, April 13th. They issued a “buy” rating and a $117.00 target price on the stock. Finally, Bank of America lowered Republic Services from a “buy” rating to a “neutral” rating in a report on Monday, January 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Republic Services presently has a consensus rating of “Hold” and an average price target of $100.54.

Republic Services stock traded down $0.28 during mid-day trading on Friday, reaching $105.61. The stock had a trading volume of 946,109 shares, compared to its average volume of 1,270,334. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. Republic Services has a fifty-two week low of $75.34 and a fifty-two week high of $106.34. The stock’s 50-day simple moving average is $99.27 and its 200-day simple moving average is $95.42. The firm has a market capitalization of $33.69 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Thursday, April 1st were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Wednesday, March 31st. This represents a $1.70 dividend on an annualized basis and a yield of 1.61%. Republic Services’s dividend payout ratio (DPR) is currently 50.90%.

In other news, major shareholder Cascade Investment, L.L.C. bought 10,055 shares of the firm’s stock in a transaction on Wednesday, March 31st. The stock was acquired at an average cost of $99.44 per share, with a total value of $999,869.20. Following the completion of the transaction, the insider now directly owns 108,812,574 shares of the company’s stock, valued at approximately $10,820,322,358.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its position in shares of Republic Services by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,752,782 shares of the business services provider’s stock valued at $457,693,000 after purchasing an additional 583,293 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Republic Services by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,887,383 shares of the business services provider’s stock valued at $374,339,000 after purchasing an additional 50,881 shares in the last quarter. Parnassus Investments CA grew its position in shares of Republic Services by 4.6% in the fourth quarter. Parnassus Investments CA now owns 2,865,224 shares of the business services provider’s stock valued at $275,921,000 after purchasing an additional 125,911 shares in the last quarter. Norges Bank purchased a new position in shares of Republic Services in the fourth quarter valued at $208,205,000. Finally, Nordea Investment Management AB grew its position in shares of Republic Services by 32.1% in the fourth quarter. Nordea Investment Management AB now owns 2,036,149 shares of the business services provider’s stock valued at $196,081,000 after purchasing an additional 494,819 shares in the last quarter. 56.78% of the stock is owned by institutional investors and hedge funds.

About Republic Services

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's 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.

Featured Story: Call Option Volume

Get a free copy of the Zacks research report on Republic Services (RSG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Republic Services (NYSE:RSG)

Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.