Republic Services, Inc. (NYSE:RSG) Receives “Neutral” Rating from Barclays PLC
A number of other research firms have also commented on RSG. Zacks Investment Research raised Republic Services from a hold rating to a buy rating and set a $72.00 price objective on the stock in a research note on Friday, July 14th. BMO Capital Markets lifted their price objective on Republic Services from $71.00 to $72.00 and gave the stock an outperform rating in a research note on Friday. Stifel Nicolaus reaffirmed a buy rating and issued a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Wedbush lifted their price objective on Republic Services from $62.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, March 30th. Finally, Credit Suisse Group set a $63.00 price objective on Republic Services and gave the stock a hold rating in a research note on Sunday, April 30th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $68.60.
Shares of Republic Services (NYSE:RSG) opened at 64.22 on Friday. Republic Services has a 52 week low of $49.18 and a 52 week high of $65.54. The stock has a 50 day moving average price of $64.36 and a 200-day moving average price of $62.28. The company has a market capitalization of $21.63 billion, a PE ratio of 32.97 and a beta of 0.59.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. Equities research analysts expect that Republic Services will post $2.38 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.345 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s payout ratio is presently 65.64%.
A number of large investors have recently modified their holdings of RSG. DnB Asset Management AS increased its stake in shares of Republic Services by 29.9% in the first quarter. DnB Asset Management AS now owns 31,683 shares of the business services provider’s stock worth $1,990,000 after buying an additional 7,300 shares during the last quarter. Washington Trust Bank increased its stake in shares of Republic Services by 1.1% in the first quarter. Washington Trust Bank now owns 86,210 shares of the business services provider’s stock worth $5,415,000 after buying an additional 945 shares during the last quarter. Cribstone Capital Management LLC acquired a new stake in shares of Republic Services during the first quarter worth $121,000. Fox Run Management L.L.C. acquired a new stake in shares of Republic Services during the first quarter worth $204,000. Finally, TNB Financial acquired a new stake in shares of Republic Services during the first quarter worth $277,000. Institutional investors and hedge funds own 61.58% of the company’s stock.
Republic Services Company Profile
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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