Republic Services, Inc. (RSG) Earns Buy Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of Republic Services, Inc. (NYSE:RSG) in a research note issued to investors on Wednesday. The firm currently has a $73.00 price target on the business services provider’s stock.
A number of other equities research analysts have also issued reports on RSG. Credit Suisse Group AG set a $63.00 price target on Republic Services and gave the stock a hold rating in a research note on Sunday, April 30th. Zacks Investment Research raised Republic Services from a hold rating to a buy rating and set a $72.00 target price for the company in a research report on Friday, July 14th. BMO Capital Markets assumed coverage on Republic Services in a research report on Thursday, June 29th. They set an outperform rating and a $71.00 target price for the company. Finally, Barclays PLC reaffirmed a hold rating and set a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $67.90.
Shares of Republic Services (RSG) traded up 0.19% during trading on Wednesday, hitting $64.90. The company had a trading volume of 825,886 shares. The stock’s 50-day moving average price is $64.24 and its 200 day moving average price is $61.84. The company has a market capitalization of $21.94 billion, a P/E ratio of 34.52 and a beta of 0.59. Republic Services has a 52 week low of $49.18 and a 52 week high of $65.34.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. Republic Services had a return on equity of 10.18% and a net margin of 6.75%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $0.48 EPS. Republic Services’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Republic Services will post $2.39 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, June 29th. Republic Services’s payout ratio is 68.45%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSG. Washington Trust Bank raised its position in Republic Services by 1.1% in the first quarter. Washington Trust Bank now owns 86,210 shares of the business services provider’s stock valued at $5,415,000 after buying an additional 945 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Republic Services during the first quarter valued at $121,000. Fox Run Management L.L.C. acquired a new position in shares of Republic Services during the first quarter valued at $204,000. TNB Financial acquired a new position in shares of Republic Services during the first quarter valued at $277,000. Finally, Capstone Asset Management Co. increased its position in shares of Republic Services by 9.5% in the first quarter. Capstone Asset Management Co. now owns 38,314 shares of the business services provider’s stock valued at $2,407,000 after buying an additional 3,340 shares during the period. 61.33% of the stock is owned by hedge funds and other institutional investors.
About Republic Services
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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