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- 1 RSG stock price has been following a bearish market trend since the last one month.
- 2 After releasing quite a positive recent quarter report in the last week, RSG stock price is still showing a bearish trend.
Republic Services (RSG) stock price dropped over 3% in its recent week price performance. With a bearish trend, RSG stock price further showed a 2.13% price drop. On the other hand, in year-to-date (YTD) price analysis, RSG stock price rose more than 13%. Earlier last week, Republic Services Inc. released its Q2 2023 report that was quite positive; still, its stock price is traveling downside.
RSG Stock Price Analysis
In the recent trading session on August 8, 2023, Tuesday, RSG stock opened at $149.06, marked high at $149.22 and then closed at $147.27. The trading session further showed that its price dropped from its 50-day moving average. With the recent bearish activity, the RSI is heading near its oversold zone.
As the above chart shows, the recent closing price of RSG share is resting in between the 50 and 100-day moving average. If the bears continue their dominance in the upcoming trading session, then the stock price may touch its 100-day moving average. If not, then RSG stock will roam near the 50-day moving average.
The analysts have set their price target at $165.71, up over 12% from the recent closing price of RSG stock. Their maximum estimate is showing at $182.00 whereas the minimum estimate is $155.00. Moreover, in the past 3 months, analysts have given a “buy” rating to Republic Services Inc.
Q2 2023 Report of Republic Services
Republic Services Inc. (NYSE: RSG), a North American waste disposal company, has a market cap of nearly $46.58 Billion. On July 31, 2023, the company released its Q2 2023 report, which stated its net income was $427.40 Million. RSG price-to-sales ratio is 3.27 and the company has an Enterprise Value to EBITDA ratio of 14.33.
RSG dividends are paid quarterly while the next dividend per share is expected to be $0.54 USD, whereas as of today, Dividend Yield (TTM)% is 1.33%.
RSG earnings per share (EPS) for Q2 2023 $1.41 whereas the estimation was $1.32, which accounts for a 6.49% surprise. Its revenue for the same period amounts to $3.73 Billion despite the estimated figure of $3.73 Billion. The estimated EPS for the next quarter is $1.42, and revenue is expected to reach $3.81 Billion.
Last year, the revenue of Republic Services Inc. reached $13.51 Billion. Out of this, $3.95 Billion came from its highest performing source at the moment, Small-container.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
