Republic Services Analysts Boost Their Forecasts After Better-Than-Expected Q2 Earnings

Republic Services Inc RSG reported upbeat earnings for the second quarter on Tuesday.

The company posted quarterly earnings of $1.77 per share which beat the analyst consensus estimate of $1.76 per share. The company reported quarterly sales of $4.235 billion which missed the analyst consensus estimate of $4.262 billion.

“We are pleased with our second quarter results which demonstrate the resilience of our business model and the benefit of the investments in our differentiated capabilities,” said Jon Vander Ark, president and chief executive officer. “We produced double-digit growth in EBITDA and 100 basis points of adjusted EBITDA margin expansion by continuing to price ahead of cost inflation and consistently executing our operational plan.”

RSG shares fell 5.3% to trade at $233.26 on Wednesday.

These analysts made changes to their price targets on RSG following earnings announcement.

• UBS analyst Jon Windham maintained Republic Services with a Neutral and raised the price target from $250 to $260.
• BMO Capital analyst Devin Dodge maintained the stock with an Outperform rating and raised the price target from $280 to $284.

Considering buying RSG stock? Here’s what analysts think:

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