Republic Services (NYSE:RSG) Issues Earnings Results, Beats Expectations By $0.19 EPS

Republic Services (NYSE:RSG) issued its earnings results on Tuesday. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.19, Briefing.com reports. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business earned $1.54 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Republic Services updated its FY 2024 guidance to EPS.

Republic Services Price Performance

Republic Services stock traded down $1.28 during midday trading on Wednesday, reaching $203.03. 152,697 shares of the stock traded hands, compared to its average volume of 1,122,319. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services has a 12 month low of $146.82 and a 12 month high of $208.69. The stock’s fifty day moving average is $203.91 and its 200-day moving average is $196.64. The stock has a market cap of $63.77 billion, a P/E ratio of 33.94, a PEG ratio of 3.21 and a beta of 0.69.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is 38.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Raymond James cut 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, July 25th. Scotiabank assumed coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.18.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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.