Republic Services (NYSE:RSG – Get 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
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
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.
- Get a free copy of the StockNews.com research report on Republic Services (RSG)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.