Republic Services (NYSE:RSG) Issues Earnings Results, Beats Estimates By $0.14 EPS

Republic Services (NYSE:RSG) issued its quarterly earnings data on Tuesday. The business services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14, FiscalAI reports. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.

Republic Services Price Performance

NYSE:RSG traded down $1.78 during trading hours on Tuesday, hitting $221.39. The company’s stock had a trading volume of 2,181,206 shares, compared to its average volume of 1,498,902. The company has a market capitalization of $68.53 billion, a PE ratio of 32.94, a PEG ratio of 3.64 and a beta of 0.54. Republic Services has a 52-week low of $201.42 and a 52-week high of $258.75. The business’s 50-day moving average is $214.59 and its two-hundred day moving average is $220.17. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Thursday, April 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio is presently 37.20%.

Insider Activity

In related news, Director Katharine Weymouth acquired 478 shares of Republic Services stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the purchase, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Republic Services

A number of hedge funds and other institutional investors have recently modified their holdings of RSG. Williams Jones Wealth Management LLC. grew its holdings in shares of Republic Services by 2.6% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider’s stock worth $408,000 after acquiring an additional 49 shares during the period. ICONIQ Capital LLC boosted its position in Republic Services by 3.3% during the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock worth $384,000 after purchasing an additional 50 shares in the last quarter. MGB Wealth Management LLC grew its holdings in Republic Services by 2.5% in the second quarter. MGB Wealth Management LLC now owns 2,415 shares of the business services provider’s stock valued at $595,000 after purchasing an additional 60 shares during the last quarter. L2 Asset Management LLC raised its stake in shares of Republic Services by 7.3% during the 4th quarter. L2 Asset Management LLC now owns 1,019 shares of the business services provider’s stock worth $216,000 after buying an additional 69 shares during the last quarter. Finally, Keel Point LLC boosted its position in shares of Republic Services by 5.0% in the 2nd quarter. Keel Point LLC now owns 1,480 shares of the business services provider’s stock worth $365,000 after buying an additional 71 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird set a $240.00 price target on shares of Republic Services in a research note on Friday, October 31st. Citigroup decreased their target price on shares of Republic Services from $268.00 to $244.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Sanford C. Bernstein boosted their price target on Republic Services from $205.00 to $220.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Bank of America decreased their price objective on Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Finally, Barclays dropped their target price on Republic Services from $237.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $248.82.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.