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

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

Republic Services Trading Down 1.2 %

Republic Services stock traded down $2.52 during trading on Wednesday, reaching $201.79. The company had a trading volume of 112,810 shares, compared to its average volume of 1,122,129. Republic Services has a 12-month low of $146.82 and a 12-month high of $208.69. The stock’s 50 day moving average price is $203.91 and its two-hundred day moving average price is $196.64. The firm has a market capitalization of $63.38 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 3.21 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. Republic Services’s payout ratio is 38.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. CIBC upped their price objective on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and upped their target price for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Raymond James lowered their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. William Blair initiated coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $212.18.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

About Republic Services

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.