Republic Services (NYSE:RSG) Issues Earnings Results

Republic Services (NYSE:RSG) released its quarterly earnings results on Tuesday. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10, Briefing.com reports. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business earned $1.24 EPS. The company’s revenue was up 7.8% compared to the same quarter last year.

Republic Services Stock Performance

Shares of NYSE RSG traded down $1.71 during mid-day trading on Tuesday, reaching $191.70. 2,046,713 shares of the company’s stock were exchanged, compared to its average volume of 1,223,430. The firm has a 50-day moving average price of $187.62 and a two-hundred day moving average price of $171.16. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $60.38 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. Republic Services has a 52 week low of $140.07 and a 52 week high of $196.76.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is 39.12%.

Insider Activity

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Oppenheimer increased their price target on Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a research note on Friday, March 15th. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $195.00 in a research report on Thursday, February 29th. Finally, Truist Financial increased their price target on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued 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 a consensus price target of $199.77.

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.