William Blair Has Positive Forecast for RSG FY2024 Earnings

Republic Services, Inc. (NYSE:RSG) – Investment analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for Republic Services in a report released on Wednesday, October 30th. William Blair analyst T. Romeo now anticipates that the business services provider will post earnings per share of $6.35 for the year, up from their prior forecast of $6.18. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Republic Services’ current full-year earnings is $6.23 per share. William Blair also issued estimates for Republic Services’ FY2025 earnings at $6.79 EPS and FY2026 earnings at $7.47 EPS.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday. CIBC upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. TD Cowen upped their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Price Performance

Shares of Republic Services stock opened at $198.58 on Thursday. The company’s fifty day simple moving average is $203.43 and its two-hundred day simple moving average is $196.74. Republic Services has a 12-month low of $148.36 and a 12-month high of $208.69. The firm has a market cap of $62.37 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.17 and a beta of 0.69. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.19. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.17%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC grew its position in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Republic Services in the 1st quarter worth approximately $29,000. Webster Bank N. A. purchased a new position in shares of Republic Services in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Republic Services in the 2nd quarter worth approximately $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 57.73% 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.