Republic Services, Inc. (NYSE: RSG – Get a rating) – KeyCorp Research analysts raised their second-quarter 2022 earnings per share estimates for Republic Services shares in a report released Thursday, May 19. KeyCorp analyst S. Eastman now expects the business services provider to post earnings per share of $1.23 for the quarter, up from its previous forecast of $1.18. KeyCorp also released estimates of Republic Services’ Q3 2022 earnings at $1.28 EPS and full-year 2022 earnings at $4.70 EPS.
Services of the Republic (NYSE: RSG – Get a rating) last reported results on Thursday, May 5. The business services provider reported EPS of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. The company posted revenue of $2.97 billion in the quarter, versus $2.89 billion expected by analysts. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. Republic Services revenue for the quarter increased 14.4% year over year. During the same period a year earlier, the company posted EPS of $0.93.
Other analysts have also recently released reports on the company. Morgan Stanley raised its price target on Republic Services from $139.00 to $149.00 and gave the stock an “overweight” rating in a Tuesday, March 8 report. JPMorgan Chase & Co. began covering Republic Services shares in a research note on Tuesday, March 1. They issued a “neutral” rating on the title. StockNews.com began covering Republic Services shares in a research report on Thursday, March 31. They established a “Strong Buy” rating for the company. Deutsche Bank Aktiengesellschaft cut its price target on Republic Services shares from $142.00 to $139.00 and placed a “hold” rating on the stock in a Monday, Feb. 14 research note. Finally, Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its price target for the stock from $140.00 to $150.00 in a Friday, May 13 report. . Four equity research analysts gave the stock a hold rating, five gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $136.75.
Actions of the services of the Republic opened at $127.51 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. The company has a fifty-day simple moving average of $132.24 and a 200-day simple moving average of $131.09. The stock has a market capitalization of $40.28 billion, a P/E ratio of 30.22, a price-to-earnings growth ratio of 2.62 and a beta of 0.75. Republic Services has a 12 month minimum of $106.46 and a 12 month maximum of $145.98.
Major investors have recently been buying and selling shares of the company. BlackRock Inc. increased its position in Republic Services shares by 2.1% in the first quarter. BlackRock Inc. now owns 21,085,318 shares of the business services provider valued at $2,793,803,000 after buying an additional 427,719 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Republic Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider worth $2,358,621,000 after buying an additional 168,696 shares in the last quarter. State Street Corp increased its position in Republic Services by 0.4% in the fourth quarter. State Street Corp now owns 10,143,176 shares of the business services provider worth $1,419,062,000 after acquiring an additional 42,050 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Republic Services by 5.6% during the 1st quarter. Nordea Investment Management AB now owns 4,967,419 shares of the business services provider worth $670,304,000 after purchasing an additional 264,112 shares during the period. Finally, Geode Capital Management LLC increased its stake in Republic Services by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider valued at $620,473,000 after purchasing an additional 64,679 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s shares.
In related news, major shareholder Cascade Investment, LLC acquired 259,085 shares of Republic Services in a transaction that took place on Tuesday, February 22. The shares were 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 document filed with the Securities & Exchange Commission, accessible via the SEC website. 0.06% of the shares are currently held by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Friday, July 1 will receive a dividend of $0.46 per share. This represents a dividend of $1.84 on an annualized basis and a yield of 1.44%. The ex-date of this dividend is Thursday, June 30. Republic Services’ dividend payout ratio is currently 43.60%.
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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