Republic Services (NYSE:RSG) posted its earnings results on Thursday. The business services provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01, Briefing.com reports. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Republic Services updated its FY 2019 guidance to $3.23-3.28 EPS and its FY19 guidance to $3.23-3.28 EPS.
Shares of NYSE RSG traded up $3.20 during trading on Friday, reaching $90.29. The stock had a trading volume of 1,550,067 shares, compared to its average volume of 1,157,955. Republic Services has a fifty-two week low of $67.48 and a fifty-two week high of $90.39. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a 50-day moving average price of $86.96. The stock has a market capitalization of $27.88 billion, a P/E ratio of 29.22, a P/E/G ratio of 2.83 and a beta of 0.50.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.405 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.79%. Republic Services’s payout ratio is presently 48.54%.
A number of equities research analysts have commented on the company. Stifel Nicolaus restated a “hold” rating on shares of NEXT in a research report on Monday, April 29th. Bank of America set a $275.00 target price on SVB Financial Group and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their target price on Shopify from C$230.00 to C$265.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group reaffirmed a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $81.97.
In related news, CEO Donald W. Slager sold 69,966 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.66, for a total transaction of $5,783,389.56. Following the completion of the transaction, the chief executive officer now directly owns 287,610 shares of the company’s stock, valued at approximately $23,773,842.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles F. Serianni sold 9,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $82.30, for a total value of $781,850.00. Following the transaction, the chief financial officer now directly owns 53,700 shares of the company’s stock, valued at $4,419,510. The disclosure for this sale can be found here. Insiders sold 131,875 shares of company stock valued at $10,891,028 over the last ninety days. Insiders own 0.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Republic Services by 4.0% during the 1st quarter. BlackRock Inc. now owns 21,393,144 shares of the business services provider’s stock worth $1,719,581,000 after purchasing an additional 830,100 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Republic Services by 4.2% during the 1st quarter. Wells Fargo & Company MN now owns 5,255,079 shares of the business services provider’s stock worth $422,404,000 after acquiring an additional 210,081 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Republic Services by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,206,334 shares of the business services provider’s stock worth $303,237,000 after acquiring an additional 118,090 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Republic Services by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock worth $275,009,000 after acquiring an additional 324,355 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Republic Services during the 4th quarter worth about $216,948,000. 58.83% of the stock is owned by hedge funds and other institutional investors.
Republic Services Company Profile
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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