Republic Services (NYSE:RSG – Get 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:RSG – Get 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
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
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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