Republic Services (NYSE:RSG) Releases Earnings Results

Republic Services (NYSE:RSG - Get Free Report) posted 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 11.57% and a return on equity of 17.32%. The business had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the firm posted $1.24 earnings per share. The business's revenue was up 7.8% on a year-over-year basis.

Republic Services Stock Down 0.9 %

Shares of RSG stock traded down $1.71 on Tuesday, reaching $191.70. 2,045,527 shares of the company's stock traded hands, compared to its average volume of 1,223,444. The company has a market capitalization of $60.38 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. Republic Services has a 12-month low of $140.07 and a 12-month 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 business's 50 day moving average price is $187.85 and its two-hundred day moving average price is $171.47.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services's payout ratio is currently 39.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSG. BMO Capital Markets lifted their price target on Republic Services from $173.00 to $195.00 and gave the company a "market perform" rating in a research report on Wednesday, February 28th. Citigroup boosted their price target on shares of Republic Services from $190.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Royal Bank of Canada initiated coverage on shares of Republic Services in a research report on Monday, April 8th. They set a "sector perform" rating and a $198.00 price objective for the company. Oppenheimer boosted their target price on shares of Republic Services from $182.00 to $195.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Finally, Truist Financial raised their target price 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.77.

Insider Buying and Selling

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