Republic Services, Inc. (NYSE:RSG) had its price objective cut by BMO Capital Markets from $72.00 to $70.00 in a research report report published on Monday. They currently have an outperform rating on the business services provider’s stock.
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus restated a buy rating and issued a $73.00 target price on shares of Republic Services in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Republic Services from a hold rating to a buy rating and set a $72.00 target price on the stock in a report on Friday, July 14th. Bank of America Corporation dropped their target price on shares of Republic Services from $72.00 to $70.00 and set a buy rating on the stock in a report on Thursday, October 5th. KeyCorp restated a hold rating on shares of Republic Services in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Republic Services in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Republic Services currently has a consensus rating of Hold and a consensus price target of $67.71.
Republic Services (NYSE:RSG) traded down $0.30 during mid-day trading on Monday, reaching $63.47. 300,803 shares of the company traded hands, compared to its average volume of 1,380,000. The firm has a market capitalization of $21,200.00, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Republic Services has a 1-year low of $52.28 and a 1-year high of $67.18.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. equities analysts anticipate that Republic Services will post 2.38 earnings per share for the current year.
Republic Services declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. The ex-dividend date is Friday, December 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.17%. Republic Services’s dividend payout ratio is currently 58.47%.
In other news, EVP Jeffrey A. Hughes sold 6,329 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the sale, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at $528,622.14. The disclosure for this sale can be found here. Insiders have sold 43,187 shares of company stock worth $2,854,922 in the last quarter. Company insiders own 0.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Republic Services by 6.4% during the second quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock worth $1,292,589,000 after acquiring an additional 1,223,613 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Republic Services by 2.2% during the second quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after acquiring an additional 418,797 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Republic Services by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock worth $453,398,000 after acquiring an additional 23,456 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Republic Services by 2.2% during the third quarter. Wells Fargo & Company MN now owns 5,201,905 shares of the business services provider’s stock worth $343,639,000 after acquiring an additional 114,211 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Republic Services by 13,584.4% during the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock worth $238,663,000 after acquiring an additional 3,717,509 shares in the last quarter. 60.71% of the stock is owned by institutional investors.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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