Republic Services Receives a Hold from Oppenheimer


In a report released today, Noah Kaye from Oppenheimer maintained a Hold rating on Republic Services (NYSE: RSG). The company’s shares closed yesterday at $64.37.

Kaye observed:

“RSG beat 1Q18 top/bottom line consensus and generated significant FCF growth yr./yr. as management stated confidence in the prior FY18 outlook. While one-time items ($0.04/share benefit from CNG tax credit, $0.02 benefit from tax refunds) offset a $0.06 incremental headwind from recycling, the earnings beat pointed to outperformance in the core solid waste business. Volumes (+2% y/y) surprised to the upside as RSG benefited from a large special waste project in-quarter. Reaffirmation of EPS guidance, despite an additional $0.08-0.10 recycling headwind seen for 2Q-4Q18, appears to bode well for solid waste/E&P strength in coming quarters. Our estimates (and thesis) remain largely intact.”

According to TipRanks.com, Kaye is a 3-star analyst with an average return of 4.5% and a 44.7% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as BorgWarner, Cummins, and EnerSys.

Republic Services has an analyst consensus of Moderate Buy, with a price target consensus of $74.

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Republic Services’ market cap is currently $21.35B and has a P/E ratio of 16.98. The company has a book value ratio of 2.6828.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.

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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 company was founded in 1996 and is headquartered in Phoenix, AZ.

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