Republic Services (NYSE:RSG) Releases Fiscal 22 Earnings Forecast

Republic Services (NYSE: RSG – Get a rating) released an update to its fiscal 22 earnings guidance Thursday morning. The company provided earnings per share (EPS) guidance of $4.77 to $4.80 for the period, compared to the consensus estimate of $4.69. Republic Services also updated its guidance for fiscal year 2022 to $4.77 – $4.80 EPS.

Republic Service Price Performance

RSG stock opened at $141.54 on Friday. The stock has a 50-day moving average price of $130.67 and a two-hundred-day moving average price of $129.46. The stock has a market capitalization of $44.71 billion, a PE ratio of 33.54, a growth price-earnings ratio of 2.85 and a beta of 0.72. 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 1-year minimum of $113.57 and a 1-year maximum of $145.98.

Republic Services (NYSE: RSG – Get a rating) last reported quarterly earnings data 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. The company posted revenue of $2.97 billion in the quarter, compared to analysts’ expectations of $2.89 billion. 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% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $0.93. Equity analysts expect Republic Services to post an EPS of 4.67 for the current fiscal year.

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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 boost 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 dividend yield of 1.40%. Republic Services’ dividend payout ratio (DPR) is currently 43.60%.

Changes to analyst ratings

Several brokerages have recently published reports on RSG. Bank of America upgraded shares of Republic Services from a neutral rating to a buy rating and raised its target price for the company from $140.00 to $150.00 in a Friday, May 13 research note. Deutsche Bank Aktiengesellschaft downgraded Republic Services shares from a hold rating to a buy rating and set a target price of $147.00 for the company in a Thursday, June 16 research note. Oppenheimer set a price target of $139.00 on Republic Services shares in a Tuesday, July 19 research report. Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the stock an outperform rating in a Friday, April 22 research report. Finally, Morgan Stanley raised its price target on Republic Services shares from $142.00 to $147.00 and gave the stock an overweight rating in a Wednesday, July 20 research report. Two research analysts gave the stock a hold rating, four issued a buy rating and two issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has an average buy rating and average price target of $142.33.

Insider Activity at Republic Services

In other Republic Services, CAO news 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. As a result of the sale, the accounting chief now owns 6,186 shares of the company, valued at $835,171.86. The transaction was disclosed in a legal filing with the SEC, accessible via this link. In other Republic Services news, CAO Brian A. Goebel sold 347 shares of the company in a trade Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. As a result of the sale, the accounting chief now owns 6,186 shares of the company, valued at $835,171.86. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, COO Timothy E. Stuart sold 15,000 shares of the company in a trade on Tuesday, June 7. The stock was 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 currently held by insiders.

Institutional Trade in Republic Services

Institutional investors have recently changed their stake in the company. Advisory Services Network LLC increased its stake in Republic Services by 29.3% in the first quarter. Advisory Services Network LLC now owns 2,636 shares of the business services provider valued at $350,000 after purchasing an additional 597 shares during the period. Neuberger Berman Group LLC increased its stake in Republic Services by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 9,787 shares of the business services provider valued at $1,297,000 after purchasing an additional 106 shares during the period. The Manufacturers Life Insurance Company increased its stake in Republic Services by 20.9% in the first quarter. The Manufacturers Life Insurance Company now owns 209,755 shares of the business services provider valued at $27,793,000 after purchasing an additional 36,197 shares during the period. Toroso Investments LLC increased its stake in Republic Services by 11.5% in the first quarter. Toroso Investments LLC now owns 5,248 shares of the business services provider valued at $695,000 after purchasing an additional 543 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Republic Services by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 442,786 shares of the business services provider valued at $58,669,000 after purchasing an additional 298,238 shares during the period. Institutional investors hold 92.80% of the company’s shares.

About Republic Services

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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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Earnings history and estimates for Republic Services (NYSE:RSG)

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