Republic Services (NYSE:RSG) Announces Earnings Results, Beats Expectations By $0.19 EPS

Republic Services (NYSE:RSG) posted its quarterly earnings data on Tuesday. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.19, Briefing.com reports. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. Republic Services updated its FY 2024 guidance to EPS.

Republic Services Price Performance

Shares of Republic Services stock opened at $204.31 on Wednesday. The stock has a 50 day moving average of $203.91 and a 200 day moving average of $196.64. Republic Services has a 12 month low of $146.15 and a 12 month high of $208.69. The firm has a market cap of $64.17 billion, a PE ratio of 34.22, a PEG ratio of 3.21 and a beta of 0.69. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 38.86%.

Analysts Set New Price Targets

A number of research firms recently commented on RSG. TD Cowen upped their price objective on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. William Blair started coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Oppenheimer upped their price target on Republic Services from $210.00 to $219.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $212.18.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.