Republic Services (NYSE:RSG) Releases Quarterly Earnings Results

Republic Services (NYSE:RSG) issued its quarterly earnings data on Tuesday. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Republic Services updated its FY 2024 guidance to EPS.

Republic Services Trading Down 0.6 %

NYSE RSG traded down $1.28 during trading hours on Wednesday, hitting $203.03. 152,697 shares of the company’s stock were exchanged, compared to its average volume of 1,122,319. The firm has a market cap of $63.77 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 3.21 and a beta of 0.69. Republic Services has a 1-year low of $146.82 and a 1-year high of $208.69. The stock has a 50-day simple moving average of $203.91 and a 200 day simple moving average of $196.64. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services Dividend Announcement

The company also recently announced 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. This represents a $2.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 38.86%.

Analysts Set New Price Targets

RSG has been the subject of a number of research analyst reports. TD Cowen boosted their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Scotiabank assumed coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. BMO Capital Markets raised their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Republic Services has an average 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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.