Republic Services (NYSE:RSG) Releases FY24 Earnings Guidance

Republic Services (NYSE:RSG) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $6.15-$6.20 for the period, compared to the consensus estimate of $6.07. The company issued revenue guidance of $16.075-$16.125 billion, compared to the consensus revenue estimate of $16.15 billion. Republic Services also updated its FY 2024 guidance to 6.150-6.200 EPS.

Republic Services Stock Performance

Shares of RSG traded up $1.54 during trading hours on Friday, reaching $190.88. 971,023 shares of the company traded hands, compared to its average volume of 1,206,333. The stock has a market capitalization of $60.11 billion, a P/E ratio of 33.31, a P/E/G ratio of 3.38 and a beta of 0.69. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a 12-month low of $140.23 and a 12-month high of $206.54. The business has a fifty day moving average price of $192.20 and a 200-day moving average price of $185.67.

Republic Services (NYSE:RSG) last posted 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. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 12.11% and a return on equity of 18.00%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Equities analysts anticipate that Republic Services will post 6.05 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 37.54%.

Analyst Upgrades and Downgrades

RSG has been the subject of several research reports. Royal Bank of Canada upped their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a sector perform rating in a research note on Thursday. Raymond James dropped their price target on shares of Republic Services from $219.00 to $214.00 and set an outperform rating for the company in a research note on Thursday. BMO Capital Markets upped their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a market perform rating in a report on Thursday. Robert W. Baird upped their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a neutral rating in a report on Thursday. Finally, Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and upped their price objective for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $211.69.

Insider Activity at Republic Services

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

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.