Republic Services (NYSE:RSG) Issues FY24 Earnings Guidance

Republic Services (NYSE:RSG) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $6.15-$6.20 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RSG shares. UBS Group lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a report on Wednesday, May 1st. StockNews.com cut shares of Republic Services from a strong-buy rating to a buy rating in a research note on Wednesday. CIBC increased their price target on Republic Services from $196.00 to $208.00 and gave the company a neutral rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Republic Services in a research report on Thursday, May 23rd. They set a hold rating and a $203.00 price objective on the stock. Finally, Raymond James cut their price target on Republic Services from $219.00 to $214.00 and set an outperform rating on the stock in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of Moderate Buy and a consensus price target of $211.69.

Republic Services Trading Up 0.5 %

Shares of RSG stock traded up $0.96 during mid-day trading on Friday, hitting $190.30. The company’s stock had a trading volume of 1,860,641 shares, compared to its average volume of 1,380,696. The company has a market cap of $59.93 billion, a PE ratio of 33.39, a P/E/G ratio of 3.14 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.59. The company’s fifty day simple moving average is $192.24 and its 200-day simple moving average is $185.85. Republic Services has a 52 week low of $140.23 and a 52 week high of $206.54.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’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 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

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

Insider Buying and Selling

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated 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 sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katharine Weymouth acquired 540 shares of the stock in a transaction that occurred 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 purchase, the director now directly 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.