Republic Services (NYSE:RSG) Announces Quarterly Earnings Results

Republic Services (NYSE:RSGGet Rating) released its earnings results on Thursday. The business services provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.14, Briefing.com reports. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.30 billion. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. Republic Services’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. Republic Services updated its FY 2022 guidance to $4.77-$4.80 EPS and its FY22 guidance to $4.77 to $4.80 EPS.

Republic Services Stock Performance

Shares of RSG traded up $0.36 during trading hours on Friday, hitting $141.90. The stock had a trading volume of 1,372,528 shares, compared to its average volume of 1,288,999. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day moving average price of $130.78 and a 200 day moving average price of $129.55. Republic Services has a fifty-two week low of $113.57 and a fifty-two week high of $145.98. The firm has a market capitalization of $44.82 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.85 and a beta of 0.72.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be paid a $0.495 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.46. This represents a $1.98 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, September 30th. Republic Services’s payout ratio is currently 43.60%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RSG shares. Bank of America raised shares of Republic Services from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research report on Friday, May 13th. Morgan Stanley upped their price objective on shares of Republic Services from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. Oppenheimer set a $139.00 price objective on shares of Republic Services in a report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $147.00 price objective on the stock in a report on Thursday, June 16th. Finally, Raymond James upped their price objective on shares of Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $142.33.

Insider Activity at Republic Services

In related news, COO Timothy E. Stuart sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following the completion of the transaction, the chief operating officer now directly owns 19,675 shares in the company, valued at approximately $2,659,863.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the transaction, the chief operating officer now directly owns 19,675 shares in the company, valued at $2,659,863.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian A. Goebel sold 347 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the transaction, the chief accounting officer now owns 6,186 shares of the company’s stock, valued at $835,171.86. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Republic Services

A number of large investors have recently added to or reduced their stakes in the stock. First Commonwealth Financial Corp PA grew its holdings in shares of Republic Services by 2.4% during the first quarter. First Commonwealth Financial Corp PA now owns 3,605 shares of the business services provider’s stock worth $478,000 after buying an additional 85 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Republic Services by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 9,787 shares of the business services provider’s stock worth $1,297,000 after buying an additional 106 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Republic Services by 0.5% during the first quarter. First Republic Investment Management Inc. now owns 23,752 shares of the business services provider’s stock worth $3,147,000 after buying an additional 120 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Republic Services by 2.9% during the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after buying an additional 187 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Republic Services by 8.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,706 shares of the business services provider’s stock worth $358,000 after buying an additional 220 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Company Profile

(Get Rating)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

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Earnings History for Republic Services (NYSE:RSG)

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