Republic Services, Inc. (NYSE:RSG) had its target price cut by BMO Capital Markets from $72.00 to $70.00 in a research report report published on Monday, November 6th. They currently have an outperform rating on the business services provider’s stock.
Several other equities research analysts also recently weighed in on RSG. Zacks Investment Research raised shares of Republic Services from a sell rating to a hold rating in a research note on Friday, November 3rd. Bank of America Corporation decreased their price target on shares of Republic Services from $72.00 to $70.00 and set a buy rating for the company in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Republic Services in a research note on Friday, August 25th. Royal Bank Of Canada reaffirmed an outperform rating on shares of Republic Services in a research note on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 price target on shares of Republic Services and gave the company a hold rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Republic Services has a consensus rating of Hold and an average price target of $67.71.
Shares of Republic Services (NYSE RSG) traded down $0.80 during trading hours on Monday, hitting $62.44. 819,637 shares of the stock were exchanged, compared to its average volume of 1,260,300. The firm has a market capitalization of $20,869.01, a price-to-earnings ratio of 26.02, a PEG ratio of 3.07 and a beta of 0.61. 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 52 week low of $54.47 and a 52 week 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. research analysts anticipate that Republic Services will post 2.4 earnings per share for the current fiscal year.
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Republic Services announced that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s payout ratio is presently 58.47%.
In other Republic Services news, insider Donald W. Slager sold 32,421 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total value of $2,074,944.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 75,608 shares of company stock valued at $4,929,866 over the last ninety days. 0.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Republic Services by 6.4% in the second quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after acquiring an additional 1,223,613 shares during the last quarter. Vanguard Group Inc. boosted its stake in Republic Services by 2.2% in the second quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after acquiring an additional 418,797 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Republic Services by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock valued at $453,398,000 after acquiring an additional 23,456 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Republic Services by 2.2% in the third quarter. Wells Fargo & Company MN now owns 5,201,905 shares of the business services provider’s stock valued at $343,639,000 after acquiring an additional 114,211 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Republic Services by 2.7% in the third quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock valued at $254,177,000 after acquiring an additional 102,801 shares during the last quarter. Hedge funds and other institutional investors own 60.98% of the company’s stock.
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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