UBS Group lowered shares of Republic Services (NYSE:RSG) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, www.benzinga.com reports. The brokerage currently has $77.00 price objective on the business services provider’s stock, down from their prior price objective of $83.00.
A number of other brokerages have also weighed in on RSG. Goldman Sachs Group raised shares of Republic Services to a hold rating and set a $79.00 price target on the stock in a research note on Tuesday, December 4th. Zacks Investment Research raised shares of Republic Services from a hold rating to a buy rating and set a $82.00 price target on the stock in a research note on Thursday, December 20th. Bank of America lowered shares of Republic Services from a buy rating to a neutral rating and set a $74.00 price target on the stock. in a research note on Wednesday, October 24th. BMO Capital Markets cut their price objective on shares of Republic Services from $79.00 to $75.00 and set an outperform rating for the company in a report on Friday, October 26th. Finally, Oppenheimer reiterated a hold rating on shares of Republic Services in a report on Friday, October 26th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $74.88.
RSG stock opened at $74.65 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.56 and a current ratio of 0.56. Republic Services has a 52-week low of $60.26 and a 52-week high of $78.54. The stock has a market cap of $23.99 billion, a PE ratio of 30.72, a PEG ratio of 2.11 and a beta of 0.61.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. Sell-side analysts forecast that Republic Services will post 3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 dividend on an annualized basis and a yield of 2.01%. Republic Services’s payout ratio is 61.73%.
In other Republic Services news, Director Jennifer M. Kirk acquired 1,500 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average price of $72.35 per share, for a total transaction of $108,525.00. Following the acquisition, the director now owns 1,500 shares in the company, valued at $108,525. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian A. Goebel sold 3,000 shares of the stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $71.27, for a total transaction of $213,810.00. Following the completion of the sale, the chief accounting officer now owns 9,186 shares of the company’s stock, valued at approximately $654,686.22. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Cognios Capital LLC increased its holdings in Republic Services by 2.3% in the 2nd quarter. Cognios Capital LLC now owns 37,354 shares of the business services provider’s stock valued at $2,553,000 after purchasing an additional 843 shares during the last quarter. Federated Investors Inc. PA increased its stake in Republic Services by 68.4% in the second quarter. Federated Investors Inc. PA now owns 46,788 shares of the business services provider’s stock valued at $3,199,000 after purchasing an additional 19,011 shares during the period. Baird Financial Group Inc. increased its stake in Republic Services by 8.7% in the second quarter. Baird Financial Group Inc. now owns 21,339 shares of the business services provider’s stock valued at $1,459,000 after purchasing an additional 1,714 shares during the period. Van ECK Associates Corp increased its stake in Republic Services by 2.5% in the second quarter. Van ECK Associates Corp now owns 32,800 shares of the business services provider’s stock valued at $2,242,000 after purchasing an additional 801 shares during the period. Finally, BB&T Securities LLC increased its stake in Republic Services by 4.0% in the second quarter. BB&T Securities LLC now owns 44,536 shares of the business services provider’s stock valued at $3,043,000 after purchasing an additional 1,695 shares during the period. Institutional investors own 59.23% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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