Republic Services, Inc. (RSG) Downgraded by Stifel Nicolaus to “Hold”
Stifel Nicolaus downgraded shares of Republic Services, Inc. (NYSE:RSG) from a buy rating to a hold rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have $70.00 price target on the business services provider’s stock, down from their previous price target of $76.00.
A number of other research analysts also recently weighed in on RSG. BMO Capital Markets initiated coverage on shares of Republic Services in a research report on Thursday, June 29th. They set an outperform rating and a $71.00 price objective on the stock. Zacks Investment Research downgraded shares of Republic Services from a buy rating to a hold rating in a research report on Tuesday, July 4th. Barclays PLC restated a neutral rating on shares of Republic Services in a research report on Friday, July 28th. Credit Suisse Group set a $69.00 price target on shares of Republic Services and gave the stock a hold rating in a research report on Saturday, July 29th. Finally, BidaskClub downgraded shares of Republic Services from a hold rating to a sell rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Republic Services presently has a consensus rating of Hold and a consensus target price of $71.33.
Shares of Republic Services (RSG) opened at 63.18 on Wednesday. The company has a 50 day moving average of $65.45 and a 200-day moving average of $64.07. Republic Services has a 12-month low of $49.18 and a 12-month high of $67.18. The company has a market cap of $21.28 billion, a PE ratio of 32.43 and a beta of 0.60.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Equities research analysts anticipate that Republic Services will post $2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.345 dividend. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 2.18%. Republic Services’s dividend payout ratio (DPR) is presently 70.77%.
In other Republic Services news, EVP Catharine D. Ellingsen sold 14,250 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.02, for a total value of $940,785.00. Following the transaction, the executive vice president now directly owns 8,007 shares in the company, valued at $528,622.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now owns 428 shares in the company, valued at $28,462. The disclosure for this sale can be found here. Insiders sold 43,187 shares of company stock worth $2,854,922 over the last quarter. Insiders own 0.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC raised its position in shares of Republic Services by 48.6% during the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 521 shares during the period. Sun Life Financial INC raised its position in shares of Republic Services by 20,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. bought a new stake in shares of Republic Services during the 2nd quarter valued at $141,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Republic Services by 59.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in shares of Republic Services during the 2nd quarter valued at $191,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.
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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