Republic Services (NYSE:RSG) Releases FY 2022 Earnings Guidance

Republic Services (NYSE:RSGGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.77-$4.80 for the period. The company issued revenue guidance of -. Republic Services also updated its FY22 guidance to $4.77 to $4.80 EPS.

Republic Services Stock Performance

Shares of NYSE RSG traded up $0.36 during midday trading on Friday, hitting $141.90. The company’s stock had a trading volume of 1,374,826 shares, compared to its average volume of 874,152. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.07. Republic Services has a one year low of $113.57 and a one year high of $145.98. The firm has a market capitalization of $44.82 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 2.88 and a beta of 0.72. The stock has a fifty day moving average price of $130.78 and a 200 day moving average price of $129.56.

Republic Services (NYSE:RSGGet Rating) last released its earnings results on Thursday, August 4th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.30 billion. Republic Services had a return on equity of 16.30% and a net margin of 11.31%. Republic Services’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, research analysts forecast that Republic Services will post 4.78 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a 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 currently 42.20%.

Analysts Set New Price Targets

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

Insider Activity at Republic Services

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RSG. First Commonwealth Financial Corp PA boosted its position in shares of Republic Services by 2.4% during the 1st quarter. First Commonwealth Financial Corp PA now owns 3,605 shares of the business services provider’s stock worth $478,000 after acquiring an additional 85 shares in the last quarter. Neuberger Berman Group LLC raised its position in Republic Services by 1.1% in the 1st quarter. Neuberger Berman Group LLC now owns 9,787 shares of the business services provider’s stock worth $1,297,000 after buying an additional 106 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Republic Services by 0.5% during the first quarter. First Republic Investment Management Inc. now owns 23,752 shares of the business services provider’s stock worth $3,147,000 after purchasing an additional 120 shares during the period. Moors & Cabot Inc. boosted its position in shares of Republic Services by 2.9% in the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 187 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Republic Services by 8.8% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,706 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 220 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Republic Services (NYSE:RSG)

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