Republic Services, Inc. (RSG) Price Target Cut to $67.00
Republic Services, Inc. (NYSE:RSG) had its price target lowered by Credit Suisse Group from $69.00 to $67.00 in a report published on Monday. The brokerage currently has a neutral rating on the business services provider’s stock.
A number of other analysts have also recently commented on RSG. Zacks Investment Research upgraded shares of Republic Services from a hold rating to a buy rating and set a $72.00 price objective for the company in a research report on Friday, July 14th. Stifel Nicolaus restated a buy rating and issued a $73.00 price objective on shares of Republic Services in a research report on Wednesday, July 19th. BMO Capital Markets upped their price objective on shares of Republic Services from $71.00 to $72.00 and gave the company an outperform rating in a research report on Friday, July 28th. Barclays PLC restated a neutral rating on shares of Republic Services in a research report on Friday, July 28th. Finally, BidaskClub cut shares of Republic Services from a hold rating to a sell rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $67.71.
Republic Services (RSG) traded down $0.30 during mid-day trading on Monday, hitting $63.47. The stock had a trading volume of 300,803 shares, compared to its average volume of 1,380,000. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market cap of $21,200.00, a P/E ratio of 26.62, a P/E/G ratio of 3.10 and a beta of 0.62. Republic Services has a one year low of $52.28 and a one year high of $67.18.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. analysts predict that Republic Services will post 2.38 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is presently 58.47%.
Republic Services declared that its board has initiated a share buyback program on Thursday, November 2nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Republic Services news, insider Donald W. Slager sold 22,608 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now owns 246,617 shares in the company, valued at approximately $16,289,052.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total value of $420,878.50. Following the transaction, the executive vice president now owns 428 shares of the company’s stock, valued at approximately $28,462. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,187 shares of company stock valued at $2,854,922. Corporate insiders own 0.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Republic Services by 6.4% in the 2nd 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of Republic Services by 2.2% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Republic Services by 0.3% in the 3rd 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 in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Republic Services by 2.2% in the 3rd 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 in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Republic Services by 13,584.4% in the 2nd quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after acquiring an additional 3,717,509 shares in the last quarter. Institutional investors own 60.71% of the company’s stock.
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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