Stifel Nicolaus upgraded shares of Republic Services (NYSE:RSG) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm currently has $73.00 target price on the business services provider’s stock, up from their previous target price of $70.00.
RSG has been the topic of a number of other reports. Bank of America reduced their price target on shares of Republic Services from $72.00 to $70.00 and set a buy rating on the stock in a research report on Thursday, October 5th. Credit Suisse Group reduced their price target on shares of Republic Services from $69.00 to $67.00 and set a neutral rating on the stock in a research report on Monday, November 6th. Zacks Investment Research upgraded shares of Republic Services from a sell rating to a hold rating in a research report on Friday, November 3rd. BMO Capital Markets reduced their price target on shares of Republic Services from $72.00 to $70.00 and set an outperform rating on the stock in a research report on Monday, November 6th. Finally, Royal Bank of Canada restated an outperform rating on shares of Republic Services in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $68.14.
Republic Services (NYSE RSG) traded down $0.18 during midday trading on Thursday, hitting $68.26. 1,547,009 shares of the stock traded hands, compared to its average volume of 1,360,000. Republic Services has a 12-month low of $56.17 and a 12-month high of $69.12. 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 company has a market cap of $22,810.00, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.12 and a beta of 0.61.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. equities analysts forecast that Republic Services will post 2.4 EPS for the current fiscal year.
Republic Services declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, December 29th. Republic Services’s dividend payout ratio is 58.47%.
In other news, insider Donald W. Slager sold 32,421 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this link. Also, CAO Brian A. Goebel sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $67.88, for a total transaction of $135,760.00. Following the completion of the transaction, the chief accounting officer now owns 6,696 shares in the company, valued at approximately $454,524.48. The disclosure for this sale can be found here. Insiders sold 132,553 shares of company stock worth $8,509,797 in the last 90 days. Company insiders own 0.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RSG. Federated Investors Inc. PA lifted its stake in Republic Services by 82.6% in the second quarter. Federated Investors Inc. PA now owns 8,175 shares of the business services provider’s stock worth $521,000 after acquiring an additional 3,698 shares during the period. Pacer Advisors Inc. lifted its stake in Republic Services by 8.4% in the second quarter. Pacer Advisors Inc. now owns 5,264 shares of the business services provider’s stock worth $335,000 after acquiring an additional 406 shares during the period. Neuberger Berman Group LLC lifted its stake in Republic Services by 1.3% in the second quarter. Neuberger Berman Group LLC now owns 33,934 shares of the business services provider’s stock worth $2,163,000 after acquiring an additional 419 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Republic Services by 0.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock worth $307,000 after acquiring an additional 16 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Republic Services by 2.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 23,217 shares of the business services provider’s stock worth $1,480,000 after acquiring an additional 472 shares during the period. 59.90% of the stock is owned by institutional investors.
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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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