KeyCorp started coverage on shares of Republic Services (NYSE:RSG) in a report published on Monday, February 4th, Marketbeat.com reports. The firm issued a sector weight rating and a $77.73 price objective on the business services provider’s stock. KeyCorp also issued estimates for Republic Services’ FY2018 earnings at $3.07 EPS, Q1 2019 earnings at $0.77 EPS, Q2 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.84 EPS, FY2019 earnings at $3.26 EPS, Q1 2020 earnings at $0.83 EPS, Q2 2020 earnings at $0.89 EPS, Q3 2020 earnings at $0.94 EPS, Q4 2020 earnings at $0.91 EPS and FY2020 earnings at $3.57 EPS.
RSG has been the subject of a number of other research reports. Oppenheimer reissued a hold rating on shares of Republic Services in a report on Friday, October 26th. 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. Zacks Investment Research reiterated a hold rating and set a $80.00 price target on shares of Republic Services in a research note on Monday, December 31st. Goldman Sachs Group upgraded shares of Republic Services to a hold rating and set a $79.00 target price for the company in a research note on Tuesday, December 4th. Finally, UBS Group cut shares of Republic Services from a buy rating to a neutral rating and lowered their price objective for the stock from $83.00 to $77.00 in a research note on Thursday, January 10th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $76.59.
Shares of RSG traded up $0.09 on Monday, hitting $78.52. 987,521 shares of the stock traded hands, compared to its average volume of 1,232,862. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.23 and a beta of 0.59. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.58 and a current ratio of 0.58. Republic Services has a 1 year low of $64.13 and a 1 year high of $78.84.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a net margin of 10.33% and a return on equity of 12.84%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share. Equities analysts expect that Republic Services will post 3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, March 29th. Republic Services’s payout ratio is presently 48.54%.
In other Republic Services news, CAO Brian A. Goebel sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $74.25, for a total transaction of $148,500.00. Following the completion of the transaction, the chief accounting officer now owns 8,186 shares of the company’s stock, valued at approximately $607,810.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brian A. Goebel sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $71.27, for a total value of $213,810.00. Following the transaction, the chief accounting officer now owns 9,186 shares of the company’s stock, valued at $654,686.22. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock worth $581,220 over the last ninety days. 0.30% 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. boosted its holdings in shares of Republic Services by 8.4% in the fourth quarter. BlackRock Inc. now owns 20,563,044 shares of the business services provider’s stock valued at $1,482,389,000 after purchasing an additional 1,600,885 shares during the period. Vanguard Group Inc lifted its position in shares of Republic Services by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 18,743,008 shares of the business services provider’s stock worth $1,361,867,000 after purchasing an additional 115,598 shares during the last quarter. Matthew Goff Investment Advisor LLC increased its stake in Republic Services by 2,317.5% in the third quarter. Matthew Goff Investment Advisor LLC now owns 12,266,686 shares of the business services provider’s stock valued at $507,412,000 after purchasing an additional 11,759,274 shares during the period. American Century Companies Inc. increased its stake in shares of Republic Services by 16.4% during the third quarter. American Century Companies Inc. now owns 7,468,603 shares of the business services provider’s stock worth $542,669,000 after acquiring an additional 1,053,773 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Republic Services by 0.7% in the third quarter. Wells Fargo & Company MN now owns 4,436,601 shares of the business services provider’s stock valued at $322,364,000 after purchasing an additional 29,076 shares in the last quarter. 60.28% of the stock is owned by institutional investors.
About Republic Services
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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