Republic Services (NYSE:RSG) Releases FY 2024 Earnings Guidance

Republic Services (NYSE:RSG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 6.150-6.200 for the period, compared to the consensus estimate of 6.060. The company issued revenue guidance of $16.1 billion-$16.1 billion, compared to the consensus revenue estimate of $16.2 billion. Republic Services also updated its FY24 guidance to $6.15-$6.20 EPS.

Republic Services Stock Performance

Shares of NYSE RSG traded down $10.33 during mid-day trading on Thursday, hitting $189.34. The stock had a trading volume of 2,370,302 shares, compared to its average volume of 1,208,292. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The company has a 50 day moving average of $192.17 and a two-hundred day moving average of $185.65. Republic Services has a twelve month low of $140.23 and a twelve month high of $206.54. The firm has a market cap of $59.63 billion, a PE ratio of 33.80, a PEG ratio of 3.37 and a beta of 0.69.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $1.24 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that Republic Services will post 6.05 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.23%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is presently 37.54%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Republic Services from a strong-buy rating to a buy rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a report on Thursday, May 23rd. They issued a hold rating and a $203.00 price target on the stock. BMO Capital Markets upped their price target on shares of Republic Services from $209.00 to $211.00 and gave the company a market perform rating in a report on Thursday. Raymond James lowered their target price on shares of Republic Services from $219.00 to $214.00 and set an outperform rating on the stock in a research note on Thursday. Finally, CIBC increased their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock a neutral rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has an average rating of Moderate Buy and a consensus target price of $211.69.

Insider Activity at Republic Services

In related news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Republic Services news, Director Katharine Weymouth acquired 540 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at $100,040.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.