Republic Services (NYSE:RSG) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Republic Services (NYSE:RSG) posted its quarterly earnings data on Tuesday. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10, Briefing.com reports. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm posted $1.24 EPS. Republic Services’s revenue was up 7.8% compared to the same quarter last year.

Republic Services Stock Performance

NYSE RSG traded down $1.71 during trading hours on Tuesday, hitting $191.70. The company had a trading volume of 2,046,713 shares, compared to its average volume of 1,223,430. The business has a 50 day moving average of $187.62 and a 200-day moving average of $171.16. Republic Services has a 1-year low of $140.07 and a 1-year high of $196.76. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $60.38 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.12%. Republic Services’s dividend payout ratio is presently 39.12%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price on the stock. in a report on Friday, March 15th. UBS Group cut Republic Services from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $175.00 to $195.00 in a report on Thursday, February 29th. Truist Financial lifted their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Scotiabank began coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target on the stock. Finally, Oppenheimer lifted their price target on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.77.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

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.