Republic Services (NYSE:RSG) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Republic Services (NYSE:RSGGet Rating) announced its earnings results on Thursday. The business services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.18 by $0.14, Briefing.com reports. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.30 billion. Republic Services had a net margin of 11.31% and a return on equity of 16.30%. Republic Services’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. Republic Services updated its FY 2022 guidance to $4.77-$4.80 EPS and its FY22 guidance to $4.77 to $4.80 EPS.

Republic Services Price Performance

RSG stock traded up $0.36 during trading on Friday, reaching $141.90. 1,374,826 shares of the company were exchanged, compared to its average volume of 874,152. The company has a 50-day moving average of $130.78 and a two-hundred day moving average of $129.55. The company has a market capitalization of $44.82 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 2.88 and a beta of 0.72. Republic Services has a twelve month low of $113.57 and a twelve month high of $145.98. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 1.40%. This is a boost from Republic Services’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 30th. Republic Services’s dividend payout ratio is currently 42.20%.

Insider Buying and Selling

In related news, COO Timothy E. Stuart sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the transaction, the chief operating officer now directly owns 19,675 shares in the company, valued at approximately $2,659,863.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were 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 directly owns 19,675 shares of the company’s stock, valued at approximately $2,659,863.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian A. Goebel sold 347 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the sale, the chief accounting officer now directly owns 6,186 shares in the company, valued at $835,171.86. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Republic Services

A number of institutional investors have recently modified their holdings of RSG. D.A. Davidson & CO. bought a new stake in shares of Republic Services in the 1st quarter valued at $203,000. Synovus Financial Corp lifted its position in shares of Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock valued at $1,890,000 after acquiring an additional 260 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Republic Services by 34.6% during the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock valued at $523,000 after acquiring an additional 998 shares during the period. Blair William & Co. IL lifted its position in shares of Republic Services by 1.6% during the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock valued at $4,129,000 after acquiring an additional 495 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Republic Services by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock valued at $891,000 after acquiring an additional 187 shares during the period. 92.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RSG. Raymond James lifted their target price on shares of Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a report on Thursday, June 16th. Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research note on Friday, May 13th. Morgan Stanley lifted their price objective on shares of Republic Services from $142.00 to $147.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 20th. Finally, Oppenheimer set a $139.00 price objective on shares of Republic Services in a research note on Tuesday, July 19th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Buy” and a consensus target price of $142.33.

Republic Services Company Profile

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Republic Services, Inc, together with its subsidiaries, offers 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 material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

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Earnings History for Republic Services (NYSE:RSG)

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