Republic Services (NYSE:RSG) Issues FY24 Earnings Guidance

Republic Services (NYSE:RSG) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.15-$6.20 for the period, compared to the consensus estimate of $6.07. The company issued revenue guidance of $16.075-$16.125 billion, compared to the consensus revenue estimate of $16.15 billion. Republic Services also updated its FY 2024 guidance to 6.150-6.200 EPS.

Republic Services Stock Up 0.5 %

RSG stock traded up $0.96 during trading on Friday, hitting $190.30. 1,860,641 shares of the company’s stock traded hands, compared to its average volume of 1,380,696. The business has a fifty day simple moving average of $192.24 and a two-hundred day simple moving average of $185.85. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $59.93 billion, a P/E ratio of 33.39, a PEG ratio of 3.14 and a beta of 0.69. Republic Services has a 1 year low of $140.23 and a 1 year high of $206.54.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company posted $1.24 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is presently 37.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RSG shares. Oppenheimer lowered their target price on shares of Republic Services from $211.00 to $210.00 and set an outperform rating for the company in a research note on Thursday. Truist Financial upgraded Republic Services from a hold rating to a buy rating and boosted their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. UBS Group increased their price target on Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Stifel Nicolaus upped their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a buy rating in a report on Thursday. Finally, BMO Capital Markets lifted their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a market perform rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $211.69.

Insiders Place Their Bets

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