Republic Services (NYSE: RSG – Get a rating) updated its earnings guidance for fiscal 2022 on Thursday. The company provided earnings per share guidance of $4.77 to $4.80 for the period. The company released a revenue forecast of -.
Republic services trade up 0.6%
Shares of Republic Services opened at $146.68 on Thursday. The company has a market capitalization of $46.34 billion, a PE ratio of 33.64, a PEG ratio of 2.69 and a beta of 0.72. The company’s 50-day simple moving average is $134.53 and its 200-day simple moving average is $131.21. The company has a debt ratio of 1.26, a quick ratio of 0.73 and a current ratio of 0.73. Republic Services has a 52-week minimum of $113.57 and a 52-week maximum of $148.26.
Republic Services (NYSE: RSG – Get a rating) last reported results on Thursday, August 4. The business services provider reported earnings per share of $1.32 for the quarter, beating the consensus estimate of $1.18 by $0.14. Republic Services achieved a net margin of 11.31% and a return on equity of 16.18%. The company posted revenue of $3.41 billion in the quarter, compared to $3.30 billion expected by analysts. In the same quarter last year, the company earned earnings per share of $1.09. The company’s revenue increased 21.4% year over year. Equity research analysts expect Republic Services to post earnings per share of 4.78 for the current year.
The services of the Republic increase their dividends
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Investors of record on Monday, October 3 will receive a dividend of $0.495. This represents an annualized dividend of $1.98 and a yield of 1.35%. The ex-date of this dividend is Friday, September 30. This is a positive change from Republic Services’ previous quarterly dividend of $0.46. Republic Services’ dividend payout ratio is 42.20%.
Analyst upgrades and downgrades
A number of stock analysts have recently released reports on the company. Morgan Stanley raised its price target on Republic Services from $147.00 to $157.00 and gave the stock an overweight rating in a Monday, Aug. 8 report. Oppenheimer raised his price target on Republic Services shares from $139.00 to $154.00 and gave the company an outperform rating in a Monday, Aug. 8 research note. StockNews.com downgraded shares of Republic Services from a strong buy rating to a buy rating in a Monday, August 15, report. Bank of America upgraded shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Republic Services shares from $147.00 to $158.00 in a Tuesday, August 9 research note. Two investment analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a Moderate Buy consensus rating and an average price target of $148.33.
Insider buying and selling
Separately, COO Timothy E. Stuart sold 15,000 shares of the company in a trade that took place 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 owns 19,675 shares of the company, valued at approximately $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. 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 transaction of $2,027,850.00. Following the completion of the sale, the COO now owns 19,675 shares of the company, valued at approximately $2,659,863.25. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, CAD Brian A. Goebel sold 347 shares of the company in a trade on Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. Following the sale, the accounting director now owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. Insiders sold 29,447 shares of the company worth $4,083,807 during the last quarter. Insiders own 0.06% of the shares of the company.
Hedge funds weigh on the services of the Republic
Several institutional investors and hedge funds have recently changed their positions in RSG. Worth Asset Management LLC acquired a new position in shares of Republic Services in Q1 worth $69,000. Lumature Wealth Partners LLC increased its stake in Republic Services by 66.8% in the 1st quarter. Lumature Wealth Partners LLC now owns 1,406 shares of the business services provider worth $186,000 after purchasing an additional 563 shares during the period. DA Davidson & CO. acquired a new position in Republic Services in Q1 worth $203,000. Ethic Inc. purchased a new stake in Republic Services during Q1 for a value of approximately $208,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Republic Services during the 1st quarter for a value of approximately $228,000. Institutional investors and hedge funds own 92.80% of the company’s shares.
About Republic Services
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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