Republic Services, Inc. (NYSE:RSG) PT Set at $69.00 by Credit Suisse Group
A number of other research analysts have also recently commented on the stock. Barclays PLC reaffirmed a neutral rating on shares of Republic Services in a research report on Friday, July 28th. BMO Capital Markets upped their target price 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. Stifel Nicolaus reaffirmed a buy rating and issued a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Republic Services from a hold rating to a buy rating and set a $72.00 target price on the stock in a research report on Friday, July 14th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $68.60.
Shares of Republic Services (RSG) opened at 64.58 on Friday. The company’s 50-day moving average is $64.37 and its 200-day moving average is $62.33. The company has a market cap of $21.75 billion, a price-to-earnings ratio of 33.15 and a beta of 0.59. Republic Services has a one year low of $49.18 and a one year high of $65.54.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Republic Services’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Republic Services will post $2.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is currently 65.64%.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after buying an additional 18,401,448 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after buying an additional 1,086,931 shares in the last quarter. State Street Corp boosted its stake in shares of Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after buying an additional 501,491 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Republic Services by 4.2% in the first quarter. American Century Companies Inc. now owns 8,915,076 shares of the business services provider’s stock valued at $559,956,000 after buying an additional 356,424 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Republic Services by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 6,421,842 shares of the business services provider’s stock valued at $403,356,000 after buying an additional 198,679 shares in the last quarter. 61.58% of the stock is currently owned by institutional investors and hedge funds.
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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