Republic Services Hits 52-Week High On Solid Q3 Results
Zacks Investment Research | Nov 15, 2016 09:24PM ET
Shares of Republic Services, Inc. (NYSE:RSG) hit a 52-week high of $54.92 on Nov 15, closing a notch lower at $54.91, reflecting a healthy year-to-date return of 24.8%. Despite the strong price appreciation, this Zacks Rank #3 (Hold) stock still has more room to run. The stock is currently trading at a forward P/E of 24.7x and has long-term earnings growth expectation of 8.5%.
Growth Drivers
Republic Services continued with its steady performance in third-quarter 2016 with adjusted earnings of $212.6 million or 62 cents per share, compared with $184.7 million or 53 cents in the year-earlier quarter. Adjusted earnings in the reported quarter exceeded the Zacks Consensus Estimate by 4 cents.
Revenues improved 2.8% year over year to $2,409.3 million and were in line with the Zacks Consensus Estimate. The upside in revenues was driven by a 2.1% rise in average yield and a 0.6% increase in volume, partially offset by lower fuel recovery fees of 0.6%. Core price boosted revenues by 3.2% during the quarter.
REPUBLIC SVCS Price and Consensus
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