Zacks: Analysts Expect Republic Services, Inc. (NYSE:RSG) Will Post Quarterly Sales of $2.82 Billion

Equities research analysts expect Republic Services, Inc. (NYSE:RSG) to announce $2.82 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Republic Services’ earnings, with estimates ranging from $2.76 billion to $2.88 billion. Republic Services reported sales of $2.57 billion during the same quarter last year, which would suggest a positive year over year growth rate of 9.7%. The company is expected to issue its next earnings report after the market closes on Thursday, October 28th.

According to Zacks, analysts expect that Republic Services will report full-year sales of $11.05 billion for the current financial year, with estimates ranging from $10.95 billion to $11.19 billion. For the next year, analysts expect that the company will post sales of $11.64 billion, with estimates ranging from $11.48 billion to $11.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Republic Services.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 29th. The business services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.15. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.72 billion. Republic Services had a return on equity of 15.01% and a net margin of 10.64%.

Several analysts have weighed in on RSG shares. Royal Bank of Canada boosted their price objective on Republic Services from $111.00 to $118.00 and gave the company a “sector perform” rating in a research report on Friday, July 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating and set a $128.00 price objective for the company. in a research report on Wednesday, September 29th. Morgan Stanley boosted their price objective on Republic Services from $126.00 to $134.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. The Goldman Sachs Group upgraded Republic Services from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, August 24th. Finally, BMO Capital Markets boosted their price objective on Republic Services from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Monday, August 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $116.18.

A number of hedge funds have recently modified their holdings of RSG. Nordea Investment Management AB grew its stake in Republic Services by 147.2% in the first quarter. Nordea Investment Management AB now owns 5,033,908 shares of the business services provider’s stock worth $499,062,000 after purchasing an additional 2,997,759 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Republic Services by 190.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,237,988 shares of the business services provider’s stock worth $120,266,000 after purchasing an additional 811,132 shares during the period. BlackRock Inc. grew its stake in Republic Services by 4.0% in the second quarter. BlackRock Inc. now owns 20,712,888 shares of the business services provider’s stock worth $2,278,625,000 after purchasing an additional 792,584 shares during the period. Senator Investment Group LP purchased a new stake in shares of Republic Services in the second quarter worth $79,757,000. Finally, Millennium Management LLC grew its stake in shares of Republic Services by 370.8% in the first quarter. Millennium Management LLC now owns 897,483 shares of the business services provider’s stock worth $89,165,000 after acquiring an additional 706,837 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors.

NYSE:RSG traded up $0.33 during mid-day trading on Wednesday, reaching $126.55. The stock had a trading volume of 855,212 shares, compared to its average volume of 1,150,140. The firm has a 50 day moving average price of $122.70 and a two-hundred day moving average price of $113.82. The stock has a market capitalization of $40.29 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.88 and a beta of 0.71. Republic Services has a one year low of $86.18 and a one year high of $127.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.64 and a current ratio of 0.64.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 1st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 30th. This is an increase from Republic Services’s previous quarterly dividend of $0.43. Republic Services’s dividend payout ratio is currently 51.69%.

About Republic Services

Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

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