Republic Services (NYSE:RSG) updated its FY 2021
After-Hours earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 3.65-3.73 for the period, compared to the Thomson Reuters consensus estimate of $3.70. Republic Services also updated its FY21 guidance to $3.65-3.73 EPS.
Several brokerages have issued reports on RSG. Robert W. Baird lowered Republic Services from an outperform rating to a neutral rating and cut their price target for the stock from $103.00 to $96.00 in a report on Tuesday, February 16th. JPMorgan Chase & Co. upgraded Republic Services from a neutral rating to an overweight rating and set a $102.00 price target on the stock in a report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research lowered Republic Services from a hold rating to a sell rating and set a $101.00 price target on the stock. in a report on Wednesday, January 13th. Argus raised their target price on Republic Services from $102.00 to $110.00 and gave the company a buy rating in a report on Wednesday, November 18th. Finally, Morgan Stanley raised their target price on Republic Services from $97.00 to $99.00 and gave the company an equal weight rating in a report on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Republic Services currently has an average rating of Hold and an average target price of $97.31.
Shares of Republic Services stock opened at $89.00 on Tuesday. The business’s fifty day simple moving average is $92.84 and its 200 day simple moving average is $93.91. The firm has a market capitalization of $28.37 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Republic Services has a 12 month low of $65.37 and a 12 month high of $103.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 1st will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, March 31st. Republic Services’s dividend payout ratio is currently 50.90%.
Republic Services announced that its board has initiated a share buyback program on Thursday, November 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Republic Services news, CEO Donald W. Slager sold 43,199 shares of the firm’s stock in a transaction on Friday, December 11th. The stock was sold at an average price of $94.85, for a total value of $4,097,425.15. Following the completion of the sale, the chief executive officer now directly owns 299,080 shares of the company’s stock, valued at $28,367,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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