Research analysts set expectations for Republic Services, Inc.’s third quarter 2022 results (NYSE:RSG)

Republic Services, Inc. (NYSE: RSG – Get a rating) – KeyCorp stock analysts cut their third-quarter 2022 earnings estimates for Republic Services shares in a research report released to clients and investors on Tuesday, August 9. KeyCorp analyst S. Eastman now expects the business services provider to earn $1.18 per share for the quarter, down from its previous estimate of $1.28. The consensus estimate for Republic Services’ current annual earnings is $4.78 per share. KeyCorp also released Republic Services earnings estimates for the fourth quarter of 2022 at $1.15 EPS.

Several other research companies have also recently commented on RSG. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. Morgan Stanley raised its target price on Republic Services from $147.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the stock from $140.00 to $150.00 in a Friday, May 13 research note. Oppenheimer raised his price target on Republic Services from $139.00 to $154.00 and gave the stock an “outperforming” rating in a Monday report. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Republic Services from $147.00 to $158.00 in a report on Tuesday. Two 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, the company currently has an average rating of “Buy” and a consensus target price of $148.33.

Republic services trade up 0.1%

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RSG opened at $142.94 on Thursday. Republic Services has a 12 month minimum of $113.57 and a 12 month maximum of $145.98. The stock has a market capitalization of $45.16 billion, a price/earnings ratio of 32.78, a PEG ratio of 2.63 and a beta of 0.72. The company has a debt ratio of 1.26, a current ratio of 0.73 and a quick ratio of 0.75. The company has a fifty-day moving average price of $131.25 and a 200-day moving average price of $129.85.

Republic Services (NYSE: RSG – Get a rating) last released its quarterly 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 a year earlier, the company posted EPS of $1.09. The company’s revenue for the quarter increased 21.4% year over year.

Institutional entries and exits

Major investors have recently changed their positions in the company. Park Avenue Securities LLC increased its stake in shares of Republic Services by 9.8% during the 1st quarter. Park Avenue Securities LLC now owns 5,756 shares of the business services provider worth $763,000 after purchasing an additional 512 shares during the period. Daiwa Securities Group Inc. increased its position in Republic Services shares by 8.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 13,890 shares of the business services provider worth $1,840,000 after purchasing an additional 1,029 shares during the period. Advisor Partners LLC increased its position in Republic Services shares by 8.3% in the first quarter. Advisor Partners LLC now owns 12,369 shares of the business services provider worth $1,639,000 after purchasing an additional 943 shares during the period. Sigma Planning Corp raised its position in Republic Services shares by 0.5% in the first quarter. Sigma Planning Corp now owns 22,222 shares of the business services provider worth $2,945,000 after buying 113 additional shares during the period. Finally, Rockefeller Capital Management LP increased its stake in Republic Services by 18.4% in the 4th quarter. Rockefeller Capital Management LP now owns 82,258 shares of the business services provider valued at $11,470,000 after buying an additional 12,755 shares last quarter. Hedge funds and other institutional investors own 92.80% of the company’s shares.

Insider buying and selling

In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares 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 chief operating officer now 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, which is available via this link. In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares 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 chief operating officer now 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, which is available via this link. Also, CEO Ark Jon Vander sold 14,100 shares in a trade on Monday, August 8. The shares were sold at an average price of $142.49, for a total value of $2,009,109.00. Following the sale, the CEO now owns 59,619 shares of the company, valued at approximately $8,495,111.31. Disclosure of this sale can be found here. Insiders sold a total of 29,447 shares of the company worth $4,083,807 during the last quarter. Insiders of the company hold 0.06% of the shares of the company.

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. The ex-dividend date is Friday, September 30. This represents a dividend of $1.98 on an annualized basis and a dividend yield of 1.39%. This is a boost from Republic Services’ previous quarterly dividend of $0.46. Republic Services’ dividend payout ratio is currently 42.20%.

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.

Further reading

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

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