Republic Services Q4 Earnings Beat View; Forecast In-Line (RSG)

By Staff,

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Waste management services provider Republic Services, Inc. ( RSG ) late Thursday posted better-than-expected fourth quarter earnings and provided a 2012 forecast that was in-line with Wall Street's view.

The Phoenix-based company reported fourth quarter net income of $191 million, or 51 cents per share, compared with $147.6 million, or 38 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 53 cents per share.

Revenue edged slightly higher from last year to $2.03 billion.

On average, Wall Street analysts expected a much smaller profit of 45 cents per share, on slightly lower revenue of $2.02 billion.

Looking ahead, RSG predicted adjusted full-year 2012 earnings to range from $1.98 to $2.02 per share, while analysts are looking for $2.01 per share for the year.

Republic Services shares were unchanged in premarket trading Friday.

The Bottom Line
Shares of Republic Services ( RSG ) have a 2.92% dividend yield, based on last night's closing stock price of $30.09. The stock has technical support in the $26-$27 price area. If the shares can firm up, we see overhead resistance around the $32-$33 price levels.

Republic Services, Inc. ( RSG ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: RSG

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