Republic Services (NYSE:RSG) Releases FY 2024 Earnings Guidance

Republic Services (NYSE:RSG) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 6.150-6.200 for the period, compared to the consensus estimate of 6.060. The company issued revenue guidance of $16.1 billion-$16.1 billion, compared to the consensus revenue estimate of $16.2 billion. Republic Services also updated its FY24 guidance to $6.15-$6.20 EPS.

Republic Services Stock Up 0.3 %

Shares of Republic Services stock traded up $0.63 during trading on Wednesday, reaching $199.67. 1,951,969 shares of the company traded hands, compared to its average volume of 1,200,052. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. Republic Services has a 1-year low of $140.23 and a 1-year high of $206.54. The company has a 50 day moving average price of $191.92 and a 200-day moving average price of $185.55. The firm has a market capitalization of $62.88 billion, a PE ratio of 34.92, a P/E/G ratio of 3.47 and a beta of 0.69.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company earned $1.24 EPS. Republic Services’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Republic Services will post 6.05 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.16%. Republic Services’s dividend payout ratio is presently 37.54%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RSG shares. StockNews.com downgraded shares of Republic Services from a strong-buy rating to a buy rating in a report on Wednesday. UBS Group upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Scotiabank increased their target price on shares of Republic Services from $211.00 to $213.00 and gave the company a sector perform rating in a report on Wednesday, May 1st. Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and increased their target price for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a report on Thursday, May 23rd. They issued a hold rating and a $203.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $206.46.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth bought 540 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth acquired 540 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Company Profile

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.