Republic Services Inc. (NYSE:RSG) posted its quarterly earnings data on Thursday. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. Republic Services had a net margin of 6.40% and a return on equity of 9.58%. Republic Services’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. Republic Services updated its FY16 guidance to $2.19-2.20 EPS.
Shares of Republic Services (NYSE:RSG) opened at 51.98 on Monday. Republic Services has a 12-month low of $41.82 and a 12-month high of $52.92. The company’s 50-day moving average is $50.33 and its 200-day moving average is $49.85. The stock has a market cap of $17.71 billion, a P/E ratio of 30.22 and a beta of 0.54.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Tuesday, January 3rd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.46%. Republic Services’s dividend payout ratio is currently 74.85%.
In other news, insider Donald W. Slager sold 26,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $50.37, for a total value of $1,309,620.00. Following the transaction, the insider now directly owns 234,397 shares in the company, valued at approximately $11,806,576.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. PineBridge Investments L.P. boosted its stake in Republic Services by 526.7% in the second quarter. PineBridge Investments L.P. now owns 2,933 shares of the company’s stock worth $150,000 after buying an additional 2,465 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in Republic Services by 73.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,005 shares of the company’s stock worth $154,000 after buying an additional 1,270 shares during the period. Farmers National Bank purchased a new stake in Republic Services during the second quarter worth $183,000. Reynolds Capital Management LLC purchased a new stake in Republic Services during the first quarter worth $210,000. Finally, Private Bank & Trust Co. purchased a new stake in Republic Services during the second quarter worth $213,000. 61.02% of the stock is currently owned by institutional investors and hedge funds.
RSG has been the topic of a number of recent research reports. Imperial Capital lifted their price objective on shares of Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Barclays PLC lifted their price objective on shares of Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Macquarie initiated coverage on shares of Republic Services in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price objective on the stock. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, Deutsche Bank AG lowered shares of Republic Services from a “buy” rating to a “hold” rating and lifted their price objective for the company from $108.00 to $112.00 in a research note on Saturday, October 22nd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Republic Services has a consensus rating of “Hold” and a consensus target price of $57.36.
Republic Services Company Profile