Republic Services (NYSE:RSG) Releases Earnings Results

Republic Services (NYSE:RSG) issued its quarterly earnings data on Tuesday. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10, Briefing.com reports. Republic Services had a net margin of 11.81% and a return on equity of 17.75%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned $1.24 earnings per share. Republic Services’s revenue for the quarter was up 7.8% on a year-over-year basis.

Republic Services Stock Down 3.0 %

Republic Services stock opened at $186.00 on Thursday. Republic Services has a 1-year low of $140.07 and a 1-year high of $196.76. The firm’s fifty day simple moving average is $187.94 and its 200-day simple moving average is $171.57. The company has a market capitalization of $58.59 billion, a P/E ratio of 32.63, a P/E/G ratio of 3.35 and a beta of 0.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be paid a $0.535 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.15%. Republic Services’s payout ratio is 37.54%.

Wall Street Analyst Weigh In

A number of research firms have commented on RSG. Truist Financial lifted their price objective on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Oppenheimer lifted their price objective on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada assumed coverage on shares of Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price for the company. Morgan Stanley downgraded Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective on the stock. in a research note on Friday, March 15th. Finally, Citigroup boosted their target price on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Insider Transactions at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate 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.