Republic Services (NYSE:RSG) Issues FY 2024 Earnings Guidance

Republic Services (NYSE:RSG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.150-6.200 for the period, compared to the consensus EPS estimate of 6.060. The company issued revenue guidance of $16.1 billion-$16.1 billion, compared to the consensus revenue estimate of $16.2 billion. Republic Services also updated its FY24 guidance to $6.15-$6.20 EPS.

Republic Services Stock Up 0.7 %

NYSE:RSG traded up $1.39 during trading hours on Friday, hitting $190.73. The company’s stock had a trading volume of 1,228,473 shares, compared to its average volume of 1,207,757. The stock has a fifty day moving average of $192.20 and a 200-day moving average of $185.67. The stock has a market capitalization of $60.07 billion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 3.38 and a beta of 0.69. Republic Services has a 52-week low of $140.23 and a 52-week high of $206.54. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 18.00% and a net margin of 12.11%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. On average, equities analysts forecast that Republic Services will post 6.05 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.22%. Republic Services’s dividend payout ratio is 37.54%.

Analyst Ratings Changes

A number of brokerages recently commented on RSG. Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and raised their price objective for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Stifel Nicolaus raised their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a buy rating in a research report on Thursday. Robert W. Baird raised their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a neutral rating in a research report on Thursday. Oppenheimer dropped their target price on shares of Republic Services from $211.00 to $210.00 and set an outperform rating for the company in a report on Thursday. Finally, UBS Group increased their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has an average rating of Moderate Buy and an average price target of $211.69.

Insiders Place Their Bets

In other news, Director Katharine Weymouth bought 540 shares of the stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the purchase, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Katharine Weymouth purchased 540 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now directly owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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.