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Republic Services, Inc. (RSG)
by Zacks Equity ResearchNovember 16, 2012 | Comments : 0 Recommended this article: (0)
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Total revenues decreased 3.3% year over year to $2.047 billion, trailing behind the Zacks Consensus Estimate of $2.115 billion for the quarter. The top line declined due to reduction in fuel surcharge, volumes and recycling commodities pricing, partially offset by inflationary effect of core prices and acquisitions (net of divestitures).
The company intends to spend nearly $30 million in restructuring activities, thereby contracting margins in the next quarter. Our price target of $24 is based on 12.6x our fiscal 2013 earnings estimate of $1.90 per share.
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