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

Republic Services (NYSE:RSG) released its earnings results 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. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Republic Services’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. Republic Services updated its FY 2024 guidance to EPS.

Republic Services Trading Up 1.9 %

Republic Services stock opened at $204.31 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The business’s fifty day simple moving average is $203.91 and its two-hundred day simple moving average is $196.64. Republic Services has a 12 month low of $146.15 and a 12 month high of $208.69. The company has a market capitalization of $64.17 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 38.86%.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RSG shares. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.18.

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.