Republic Services, Inc. (NYSE: RSG – Get a rating) – Jefferies Financial Group raised its earnings per share (EPS) estimates for the second quarter of 2022 for Republic Services in a research note published Tuesday, May 10. Jefferies Financial Group analyst H. Mazari now expects the business services provider to earn $1.20 per share for the quarter, up from its previous forecast of $1.16. Jefferies Financial Group also released estimates for Republic Services Q3 2022 earnings at $1.27 EPS, Q4 2022 earnings at $1.18 EPS, FY2022 earnings at $4.78 EPS, 2023 Q1 earnings at $1.24 EPS, 2023 Q2 earnings at $1.34 EPS, 2023 Q3 earnings at $1.47 EPS, 2023 Q4 earnings at $1.39 EPS, fiscal 2023 at $5.45 EPS and Q1 2024 earnings at $1.39 EPS.
A number of other equity research analysts have also weighed in on the company recently. StockNews.com began covering Republic Services in a research note on Thursday, March 31. They issued a “Strong Buy” rating for the company. Raymond James raised his price target 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 $139.00 to $149.00 and gave the company an “overweight” rating in a Tuesday, March 8 research note. JPMorgan Chase & Co. began covering Republic services in a research note on Tuesday, March 1. They set a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Republic Services from $142.00 to $139.00 and set a “hold” rating for the company in a Monday, February 14 research note. Four investment analysts gave the stock a hold rating, four gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $134.86.
Shares of NYSE RSG opened at $129.14 on Thursday. Republic Services has a twelve month minimum of $106.46 and a twelve month maximum of $145.98. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt ratio of 1.06. The stock has a fifty-day simple moving average of $131.89 and a 200-day simple moving average of $131.17. The stock has a market capitalization of $40.78 billion, a PE ratio of 30.60, a PEG ratio of 2.91 and a beta of 0.75. Republic Services (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 consensus analyst estimates of $1.05 by $0.09. Republic Services had a return on equity of 15.65% and a net margin of 11.54%. The company posted revenue of $2.97 billion for the quarter, versus a consensus estimate of $2.89 billion. In the same quarter a year earlier, the company had earned earnings per share of $0.93. The company’s revenue for the quarter increased 14.4% year over year.
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 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 362,747 shares of the company in a transaction on Friday, February 18. The shares were purchased at an average price of $117.17 per share, for a total transaction of $42,503,065.99. The transaction was disclosed in a legal filing with the SEC, available at the SEC website. Insiders acquired a total of 710,420 shares of the company worth $83,099,992 during the last quarter. 0.06% of the shares are currently held by insiders.
Several institutional investors and hedge funds have recently increased or reduced their stake in RSG. Allspring Global Investments Holdings LLC acquired a new stake in shares of Republic Services in Q4 for a value of approximately $499,246,000. Norges Bank acquired a new stake in Republic Services during Q4 valued at $277,394,000. Alliancebernstein LP increased its stake in Republic Services by 237.3% during the third quarter. Alliancebernstein LP now owns 1,056,899 shares of the business services provider valued at $126,891,000 after buying an additional 743,575 shares in the last quarter. BlackRock Inc. increased its stake in Republic Services by 2.3% during the fourth quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider valued at $2,880,704,000 after buying an additional 466,966 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Republic Services during the 4th quarter at a value of $55,983,000. 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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