Republic Services (NYSE:RSG) Issues Earnings Results

Republic Services (NYSE:RSG – Get Rating) issued its earnings results on Thursday. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14, Briefing.com reports. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter last year, the business earned $1.09 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. 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 NYSE RSG traded up $0.36 during midday trading on Friday, reaching $141.90. The company had a trading volume of 1,372,528 shares, compared to its average volume of 1,288,999. Republic Services has a one year low of $113.57 and a one year high of $145.98. The stock 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. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average price is $130.78 and its 200-day moving average price is $129.55.

Republic Services Increases Dividend

The business 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. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, September 30th. This is a positive change from Republic Services’s previous quarterly dividend of $0.46. Republic Services’s payout ratio is 43.60%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, COO Timothy E. Stuart sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the sale, the chief operating officer now directly owns 19,675 shares of the company’s stock, valued at approximately $2,659,863.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Timothy E. Stuart sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the completion of the sale, the chief operating officer now directly owns 19,675 shares in the company, valued at approximately $2,659,863.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian A. Goebel sold 347 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $135.01, for a total value of $46,848.47. Following the completion of the sale, the chief accounting officer now owns 6,186 shares of the company’s stock, valued at approximately $835,171.86. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Republic Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock worth $2,358,621,000 after acquiring an additional 168,696 shares in the last quarter. Invesco Ltd. increased its position in shares of Republic Services by 18.4% in the first quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider’s stock worth $360,808,000 after acquiring an additional 422,281 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Republic Services by 20.2% during 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 acquiring an additional 302,987 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Republic Services by 2.6% during 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 buying an additional 26,620 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Republic Services by 28.1% in the first quarter. First Trust Advisors LP now owns 704,533 shares of the business services provider’s stock worth $93,351,000 after buying an additional 154,337 shares during the period. Hedge funds and other 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.