Republic Services (NYSE:RSG) Announces Earnings Results, Beats Estimates By $0.20 EPS

Republic Services (NYSE:RSG) released its earnings results on Tuesday. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20, Briefing.com reports. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. Republic Services updated its FY 2024 guidance to EPS.

Republic Services Price Performance

Shares of RSG opened at $198.58 on Friday. The firm has a fifty day moving average price of $203.43 and a 200 day moving average price of $196.74. The stock has a market cap of $62.19 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. Republic Services has a 1-year low of $148.36 and a 1-year high of $208.69. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.59.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RSG. TD Cowen lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Robert W. Baird increased their price objective on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. CIBC boosted their target price on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $215.71.

About Republic Services

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.