Republic Services, Inc. (RSG) Receives Average Rating of “Hold” from Brokerages
Republic Services, Inc. (NYSE:RSG) has earned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $74.00.
A number of research analysts have recently issued reports on RSG shares. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Friday, July 14th. KeyCorp reissued a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. BMO Capital Markets started coverage on Republic Services in a research note on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price objective on the stock. Credit Suisse Group set a $69.00 price objective on Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. Finally, Barclays PLC reissued a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th.
Republic Services (NYSE RSG) traded up 0.66% during midday trading on Friday, hitting $66.77. The stock had a trading volume of 568,035 shares. The company’s 50 day moving average price is $64.70 and its 200-day moving average price is $63.64. Republic Services has a 52 week low of $49.18 and a 52 week high of $66.87. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of 34.28 and a beta of 0.60.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Equities analysts anticipate that Republic Services will post $2.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a dividend of $0.345 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio is 65.64%.
In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the transaction, the executive vice president now directly owns 428 shares of the company’s stock, valued at approximately $28,462. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Republic Services by 6.4% during the 2nd quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock worth $1,292,589,000 after buying an additional 1,223,613 shares during the period. Vanguard Group Inc. raised its stake in Republic Services by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after buying an additional 418,797 shares during the period. State Street Corp raised its stake in Republic Services by 4.5% during the 1st quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after buying an additional 501,491 shares during the period. JPMorgan Chase & Co. raised its stake in Republic Services by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock worth $434,002,000 after buying an additional 388,147 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Republic Services by 8.3% during the 2nd quarter. Wells Fargo & Company MN now owns 5,087,694 shares of the business services provider’s stock worth $324,239,000 after buying an additional 391,482 shares during the period. 60.59% of the stock is currently owned by institutional investors and hedge funds.
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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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