Republic Services (NYSE:RSG) Issues Quarterly Earnings Results

Republic Services (NYSE:RSGGet Rating) issued its earnings results on Thursday. The business services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14, Briefing.com reports. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.30 billion. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. 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 Price Performance

NYSE:RSG traded up $0.36 during mid-day trading on Friday, hitting $141.90. 1,372,528 shares of the company’s stock traded hands, 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’s 50 day simple moving average is $130.78 and its 200 day simple moving average is $129.55. Republic Services has a 1 year low of $113.57 and a 1 year high of $145.98. The company has a market cap of $44.82 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72.

Republic Services Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.40%. Republic Services’s dividend payout ratio (DPR) is 43.60%.

Insider Transactions at Republic Services

In other news, CAO Brian A. Goebel sold 347 shares of Republic Services stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the sale, the chief accounting officer now directly owns 6,186 shares in the company, valued at $835,171.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other 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 transaction of $2,027,850.00. Following the transaction, the chief operating officer now directly owns 19,675 shares of the company’s stock, valued at $2,659,863.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Brian A. Goebel sold 347 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the sale, the chief accounting officer now directly owns 6,186 shares in the company, valued at $835,171.86. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Institutional Trading of Republic Services

Several institutional investors have recently added to or reduced their stakes in the business. Worth Asset Management LLC bought a new position in shares of Republic Services during the first quarter worth about $69,000. Lumature Wealth Partners LLC lifted its holdings in Republic Services by 66.8% in the 1st quarter. Lumature Wealth Partners LLC now owns 1,406 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 563 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in Republic Services in the 1st quarter valued at about $203,000. Ethic Inc. purchased a new stake in Republic Services during the first quarter valued at about $208,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Republic Services during the first quarter valued at about $228,000. Institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

RSG has been the topic of several research reports. Bank of America raised shares of Republic Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $150.00 in a report on Friday, May 13th. Morgan Stanley boosted their target price on shares of Republic Services from $142.00 to $147.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 20th. Oppenheimer set a $139.00 target price on shares of Republic Services in a research note on Tuesday, July 19th. 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 research note on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a research note on Thursday, June 16th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $142.33.

About Republic Services

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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.

See Also

Earnings History for Republic Services (NYSE:RSG)

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