Republic Services, Inc. (NYSE: RSG – Get a rating) – KeyCorp dropped its earnings per share (EPS) estimates for the fourth quarter of 2022 for shares of Republic Services in a note issued to investors on Thursday, May 19. KeyCorp analyst S. Eastman now expects the business services provider to post earnings per share of $1.06 for the quarter, down from its previous forecast of $1.16. . KeyCorp also released Republic Services earnings estimates for fiscal year 2023 at $5.31 EPS.
Services of the Republic (NYSE: RSG – Get a rating) last reported results on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company posted revenue of $2.97 billion for the quarter, versus analyst estimates of $2.89 billion. During the same period last year, the company earned earnings per share of $0.93. The company’s revenues increased by 14.4% compared to the same quarter last year.
A number of other equity research analysts have also weighed in on the company recently. Morgan Stanley raised its price target on Republic Services from $139.00 to $149.00 and gave the company an “overweight” rating in a Tuesday, March 8 report. JPMorgan Chase & Co. launched coverage on Republic Services in a Tuesday, March 1, report. They issued a “neutral” rating on the title. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the stock from $140.00 to $150.00 in a Friday, May 13 report. Raymond James raised his target price on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 report. To finish, StockNews.com launched coverage on Republic services in a report on Thursday, March 31. They have set a “Strong Buy” rating on the stock. Four investment analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $136.75.
Shares of RSG opened at $129.45 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 1.07. The stock’s 50-day moving average price is $132.26 and its 200-day moving average price is $131.03. The company has a market capitalization of $40.89 billion, a price/earnings ratio of 30.68, a P/E/G ratio of 2.60 and a beta of 0.75. Republic Services has a 12 month minimum of $106.46 and a 12 month maximum of $145.98.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.46 per share. This represents an annualized dividend of $1.84 and a dividend yield of 1.42%. The ex-dividend date is Thursday, June 30. Republic Services’ payout ratio is 43.60%.
In other news from Republic Services, major shareholder Cascade Investment, LLC purchased 259,085 shares of the company in a transaction on Tuesday, February 22. The stock was purchased at an average price of $117.03 per share, for a total transaction of $30,320,717.55. The purchase was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders own 0.06% of the shares of the company.
Several institutional investors and hedge funds have recently increased or reduced their stake in RSG. Marshall Wace LLP bought a new equity stake in Republic Services in Q1 for $130,000. FMR LLC increased its stake in Republic Services by 104.6% in the 1st quarter. FMR LLC now owns 143,930 shares of the business services provider worth $11,570,000 after purchasing an additional 73,568 shares during the period. BOKF NA acquired a new position in Republic Services in Q3 worth $678,000. Mercer Global Advisors Inc. ADV increased its stake in Republic Services by 3.3% in Q3. Mercer Global Advisors Inc. ADV now owns 21,299 shares of the business services provider worth $2,557,000 after purchasing an additional 673 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria SA increased its stake in Republic Services by 12.6% in the third quarter. Banco Bilbao Vizcaya Argentaria SA now owns 14,860 shares of the business services provider worth $1,784,000 after purchasing an additional 1,658 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s shares.
About Republic Services (Get a rating)
Republic Services, Inc., together with its subsidiaries, provides 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 materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.
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