Republic Services, Inc. (NYSE:RSG – Get Rating) – Stock analysts at KeyCorp boosted their FY2022 earnings per share (EPS) estimates for Republic Services in a research report issued to clients and investors on Tuesday, August 9th. KeyCorp analyst S. Eastman now forecasts that the business services provider will earn $4.79 per share for the year, up from their prior forecast of $4.70. The consensus estimate for Republic Services’ current full-year earnings is $4.78 per share. KeyCorp also issued estimates for Republic Services’ FY2023 earnings at $5.40 EPS.
Several other research firms also recently weighed in on RSG. Morgan Stanley boosted their price target on Republic Services from $147.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James increased their target price on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Republic Services from $147.00 to $158.00 in a report on Tuesday. Oppenheimer increased their target price on Republic Services from $139.00 to $154.00 and gave the company an “outperform” rating in a report on Monday. Finally, Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $150.00 in a report on Friday, May 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $148.33.
Republic Services Trading Up 0.1 %
RSG opened at $142.94 on Wednesday. The firm has a market cap of $45.15 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 2.82 and a beta of 0.72. The company has a current ratio of 0.73, a quick ratio of 0.75 and a debt-to-equity ratio of 1.26. Republic Services has a 12 month low of $113.57 and a 12 month high of $145.98. The stock has a fifty-day moving average price of $131.25 and a 200-day moving average price of $129.85.
Republic Services (NYSE:RSG – Get Rating) last announced its earnings results on Thursday, August 4th. The business services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Republic Services had a return on equity of 16.18% and a net margin of 11.31%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis.
Republic Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Republic Services’ previous quarterly dividend of $0.46. Republic Services’s payout ratio is 42.20%.
Insider Transactions at Republic Services
In related news, CEO Ark Jon Vander sold 14,100 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $142.49, for a total value of $2,009,109.00. Following the transaction, the chief executive officer now owns 59,619 shares in the company, valued at approximately $8,495,111.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Timothy E. Stuart sold 15,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 19,675 shares of the company’s stock, valued at approximately $2,659,863.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ark Jon Vander sold 14,100 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $142.49, for a total value of $2,009,109.00. Following the sale, the chief executive officer now directly owns 59,619 shares in the company, valued at approximately $8,495,111.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,447 shares of company stock worth $4,083,807. Corporate insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Park Avenue Securities LLC boosted its position in Republic Services by 9.8% in the 1st quarter. Park Avenue Securities LLC now owns 5,756 shares of the business services provider’s stock valued at $763,000 after buying an additional 512 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Republic Services by 8.0% during the first quarter. Daiwa Securities Group Inc. now owns 13,890 shares of the business services provider’s stock worth $1,840,000 after acquiring an additional 1,029 shares during the period. Advisor Partners LLC increased its stake in shares of Republic Services by 8.3% in the first quarter. Advisor Partners LLC now owns 12,369 shares of the business services provider’s stock valued at $1,639,000 after purchasing an additional 943 shares during the period. Sigma Planning Corp increased its stake in shares of Republic Services by 0.5% in the first quarter. Sigma Planning Corp now owns 22,222 shares of the business services provider’s stock valued at $2,945,000 after purchasing an additional 113 shares during the period. Finally, Rockefeller Capital Management LP increased its stake in shares of Republic Services by 18.4% in the fourth quarter. Rockefeller Capital Management LP now owns 82,258 shares of the business services provider’s stock valued at $11,470,000 after purchasing an additional 12,755 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.
Republic Services Company Profile
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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