Republic Services (NYSE:RSG) Posts Earnings Results, Beats Estimates By $0.19 EPS

Republic Services (NYSE:RSG) posted its earnings results on Tuesday. The business services provider reported $1.81 EPS 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 business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Republic Services updated its FY 2024 guidance to EPS.

Republic Services Stock Performance

Shares of Republic Services stock traded down $2.52 during trading on Wednesday, hitting $201.79. 112,810 shares of the stock were exchanged, compared to its average volume of 1,122,129. The stock has a market cap of $63.38 billion, a PE ratio of 33.94, a P/E/G ratio of 3.21 and a beta of 0.69. The stock’s fifty day moving average is $203.91 and its 200 day moving average is $196.64. Republic Services has a 12 month low of $146.82 and a 12 month high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio is currently 38.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on RSG shares. Oppenheimer lifted their price target on shares of Republic Services from $210.00 to $219.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Finally, Raymond James dropped their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $212.18.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were 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 owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.