Republic Services, Inc. to Post Q2 2022 Earnings of $1.23 Per Share, KeyCorp Forecasts (NYSE:RSG)

Republic Services, Inc. (NYSE:RSG – Get Rating) – Research analysts at KeyCorp boosted their Q2 2022 earnings per share estimates for shares of Republic Services in a report issued on Thursday, May 19th. KeyCorp analyst S. Eastman now forecasts that the business services provider will post earnings per share of $1.23 for the quarter, up from their previous forecast of $1.18. KeyCorp also issued estimates for Republic Services’ Q3 2022 earnings at $1.28 EPS and FY2022 earnings at $4.70 EPS.

Republic Services (NYSE:RSG – Get Rating) last released its earnings results on Thursday, May 5th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. Republic Services’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS.

Other analysts have also recently issued reports about the company. Morgan Stanley lifted their price target on Republic Services from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, March 8th. JPMorgan Chase & Co. began coverage on shares of Republic Services in a research note on Tuesday, March 1st. They issued a “neutral” rating on the stock. StockNews.com began coverage on shares of Republic Services in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Republic Services from $142.00 to $139.00 and set a “hold” rating on the stock in a research note on Monday, February 14th. Finally, Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $150.00 in a report on Friday, May 13th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $136.75.

Republic Services stock opened at $127.51 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $132.24 and a 200-day simple moving average of $131.09. The stock has a market cap of $40.28 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75. Republic Services has a 12-month low of $106.46 and a 12-month high of $145.98.

Large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Republic Services by 2.1% in the first quarter. BlackRock Inc. now owns 21,085,318 shares of the business services provider’s stock valued at $2,793,803,000 after purchasing an additional 427,719 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Republic Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock worth $2,358,621,000 after purchasing an additional 168,696 shares during the last quarter. State Street Corp boosted its position in Republic Services by 0.4% during the fourth quarter. State Street Corp now owns 10,143,176 shares of the business services provider’s stock worth $1,419,062,000 after acquiring an additional 42,050 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Republic Services by 5.6% during the 1st quarter. Nordea Investment Management AB now owns 4,967,419 shares of the business services provider’s stock worth $670,304,000 after purchasing an additional 264,112 shares during the period. Finally, Geode Capital Management LLC increased its stake in Republic Services by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider’s stock valued at $620,473,000 after purchasing an additional 64,679 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

In related news, major shareholder Cascade Investment, L.L.C. acquired 259,085 shares of Republic Services stock in a transaction that occurred on Tuesday, February 22nd. The stock was purchased at an average price of $117.03 per share, for a total transaction of $30,320,717.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, June 30th. Republic Services’s dividend payout ratio is presently 43.60%.

About Republic Services (Get Rating)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

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