FY2017 EPS Estimates for Republic Services, Inc. (RSG) Decreased by KeyCorp

Republic Services, Inc. (NYSE:RSG) – KeyCorp lowered their FY2017 earnings per share (EPS) estimates for Republic Services in a research note issued on Friday. KeyCorp analyst J. Box now anticipates that the business services provider will earn $2.37 per share for the year, down from their prior forecast of $2.38. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Republic Services’ FY2018 earnings at $2.55 EPS.

A number of other brokerages also recently issued reports on RSG. BidaskClub downgraded Republic Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Barclays PLC restated a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Friday, July 14th. BMO Capital Markets upped their price objective on Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $71.33.

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Shares of Republic Services (RSG) opened at 63.33 on Monday. Republic Services has a one year low of $49.44 and a one year high of $67.18. The firm’s 50-day moving average price is $65.36 and its 200 day moving average price is $64.13. The firm has a market cap of $21.33 billion, a P/E ratio of 32.51 and a beta of 0.60.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Republic Services by 6.4% during the 2nd quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after buying an additional 1,223,613 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Republic Services by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after buying an additional 418,797 shares during the last quarter. State Street Corp lifted its position in shares of Republic Services by 4.5% during the 1st quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after buying an additional 501,491 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Republic Services by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock valued at $434,002,000 after buying an additional 388,147 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Republic Services by 8.3% during the 2nd quarter. Wells Fargo & Company MN now owns 5,087,694 shares of the business services provider’s stock valued at $324,239,000 after buying an additional 391,482 shares during the last quarter. 60.56% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the transaction, the executive vice president now owns 428 shares of the company’s stock, valued at approximately $28,462. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.05, for a total value of $1,493,258.40. Following the transaction, the insider now directly owns 246,617 shares in the company, valued at approximately $16,289,052.85. The disclosure for this sale can be found here. Insiders have sold a total of 43,187 shares of company stock worth $2,854,922 in the last ninety days. Insiders own 0.40% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is currently 70.77%.

About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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

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