Strong economic momentum has led to piles of cash next to Republic Services' trash.
We reiterate our $50 per share fair value estimate for narrow-moat Republic Services as strong pricing and volume growth boosted earnings by 8% year over year despite hurricane-related costs. Revenue increased 6.3% year over year to $2.56 billion, reflecting 5.9% of internal revenue growth from pricing, volume, recycling, and energy services, while 40 basis points came from acquisitions. Average pricing of 2.5% benefited from strong collection pricing of 3.1%, followed by 1.3% in post-collection...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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