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

Republic Services (NYSE:RSGGet Rating) issued its earnings results on Thursday. The business services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14, Briefing.com reports. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. Republic Services’s revenue for the quarter was up 21.4% on a year-over-year basis. 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 Trading Up 0.3 %

Shares of RSG traded up $0.36 during midday trading on Friday, hitting $141.90. The stock had a trading volume of 1,372,528 shares, compared to its average volume of 1,288,999. The firm has a market cap of $44.82 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. Republic Services has a 1 year low of $113.57 and a 1 year high of $145.98. The stock’s 50 day moving average is $130.78 and its 200 day moving average is $129.55. 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 company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.40%. This is an increase from Republic Services’s previous quarterly dividend of $0.46. Republic Services’s dividend payout ratio is currently 43.60%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, COO Timothy E. Stuart sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following the transaction, the chief operating officer now 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 link. In related news, COO Timothy E. Stuart sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following the transaction, the chief operating officer now 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 link. Also, CAO Brian A. Goebel sold 347 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the transaction, the chief accounting officer now directly owns 6,186 shares in the company, valued at approximately $835,171.86. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Services

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Republic Services by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock valued at $2,358,621,000 after purchasing an additional 168,696 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Republic Services by 18.4% in the 1st quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider’s stock valued at $360,808,000 after purchasing an additional 422,281 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Republic Services by 20.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,804,322 shares of the business services provider’s stock valued at $239,073,000 after purchasing an additional 302,987 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Republic Services by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,038,825 shares of the business services provider’s stock valued at $137,645,000 after purchasing an additional 26,620 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Republic Services by 28.1% in the 1st quarter. First Trust Advisors LP now owns 704,533 shares of the business services provider’s stock valued at $93,351,000 after purchasing an additional 154,337 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

About Republic Services

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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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