Republic Services (NYSE:RSG) Price Target Cut to $244.00 by Analysts at Citigroup

Republic Services (NYSE:RSG) had its price target lowered by Citigroup from $268.00 to $244.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Other research analysts have also issued reports about the stock. Stifel Nicolaus decreased their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company began coverage on shares of Republic Services in a research note on Thursday, November 13th. They set an “overweight” rating and a $238.00 target price for the company. Scotiabank dropped their price target on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. National Bankshares reduced their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.23.

Republic Services Stock Up 0.1%

RSG stock opened at $210.99 on Friday. Republic Services has a fifty-two week low of $201.42 and a fifty-two week high of $258.75. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 3.45 and a beta of 0.55. The business’s 50 day moving average price is $212.61 and its two-hundred day moving average price is $223.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. As a group, analysts forecast that Republic Services will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Friday, January 2nd were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 37.20%.

Insiders Place Their Bets

In related news, Director Katharine Weymouth bought 478 shares of the stock in a transaction on Tuesday, December 9th. The shares were acquired at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the purchase, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after buying an additional 8,547 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Republic Services by 14.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 910 shares of the business services provider’s stock valued at $224,000 after acquiring an additional 112 shares during the last quarter. Balefire LLC boosted its position in Republic Services by 12.0% in the second quarter. Balefire LLC now owns 1,083 shares of the business services provider’s stock worth $267,000 after purchasing an additional 116 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Republic Services by 60.7% during the 2nd quarter. Pallas Capital Advisors LLC now owns 1,679 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 634 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Republic Services by 5.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,699 shares of the business services provider’s stock valued at $7,817,000 after purchasing an additional 1,769 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.