Republic Services Inc (NYSE:RSG) Reports Earnings and Beats Expectations of $0.14 per EPS

Republic Services (NYSE: RSG – Get a rating) released its quarterly earnings data on Thursday. The business services provider reported EPS of $1.32 for the quarter, beating analyst consensus estimates of $1.18 by $0.14, Briefing.com reports. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company posted revenue of $3.41 billion in the quarter, versus analyst estimates of $3.30 billion. In the same quarter last year, the company posted EPS of $1.09. The company’s revenue increased 21.4% year over year. Republic Services updated its FY2022 guidance to $4.77-$4.80 EPS and its FY22 guidance to $4.77-$4.80 EPS.

Performance of Republic Services shares

Shares of RSG rose $0.36 during Friday trading hours, hitting $141.90. 1,372,528 shares of the company were traded, against an average volume of 1,288,999. The company has a fifty-day simple moving average of $130.78 and a 200-day simple moving average of $129.55. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. Republic Services has a 52-week low of $113.57 and a 52-week high of $145.98. The stock has a market capitalization of $44.82 billion, a price/earnings ratio of 33.63, a P/E/G ratio of 2.85 and a beta of 0.72.

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The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Monday, October 3 will receive a dividend of $0.495. This is a positive change from Republic Services’ previous quarterly dividend of $0.46. The ex-date of this dividend is Friday, September 30. This represents an annualized dividend of $1.98 and a yield of 1.40%. Republic Services’ dividend payout ratio (DPR) is 43.60%.

Insider buying and selling

In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the company in a trade on Tuesday, June 7. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following completion of the transaction, the COO now directly owns 19,675 shares of the company, valued at approximately $2,659,863.25. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. In other Republic Services news, CAO Brian A. Goebel sold 347 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $135.01, for a total value of $46,848.47. As a result of the transaction, the chief accountant now owns 6,186 shares of the company, valued at $835,171.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade dated Tuesday, June 7. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the sale, the COO now directly owns 19,675 shares of the company, valued at approximately $2,659,863.25. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders.

Institutional investors weigh in on Republic Services

Hedge funds have recently been buying and selling shares of the company. DA Davidson & CO. bought a new stake in Republic Services during the first quarter worth approximately $203,000. Synovus Financial Corp increased its stake in shares of Republic Services by 1.9% in the first quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider valued at $1,890,000 after acquiring an additional 260 shares during the period. Vontobel Holding SA increased its stake in Republic Services by 34.6% in the 1st quarter. Vontobel Holding SA now owns 3,885 shares of the business services provider worth $523,000 after purchasing an additional 998 shares during the period. Blair William & Co. IL increased its stake in Republic Services by 1.6% in the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider worth $4,129,000 after purchasing an additional 495 shares during the period. Finally, Moors & Cabot Inc. increased its position in Republic Services by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider valued at $891,000 after purchasing an additional 187 shares during the period. Institutional investors hold 92.80% of the company’s shares.

Analysts set new price targets

RSG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded Republic Services shares from a “hold” rating to a “buy” rating and set a price target of $147.00 for the company in a Thursday, June 16 research note. Raymond James raised his target price on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research note. Morgan Stanley raised its price target on Republic Services from $142.00 to $147.00 and gave the company an “overweight” rating in a Wednesday, July 20 report. Oppenheimer set a target price of $139.00 on Republic Services in a Tuesday, July 19 report. Finally, Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its price target for the company from $140.00 to $150.00 in a Friday, May 13 report. Two equity research analysts gave the stock a hold rating, four issued a buy rating and two gave the stock a strong buy rating. According to MarketBeat.com, Republic Services has a consensus rating of “Buy” and a consensus price target of $142.33.

Republic Services Company Profile

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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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Revenue history for Republic Services (NYSE:RSG)

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