Republic Services, Inc. (RSG) Earns Buy Rating from BMO Capital Markets
BMO Capital Markets reiterated their buy rating on shares of Republic Services, Inc. (NYSE:RSG) in a research note published on Friday. The firm currently has a $72.00 target price on the business services provider’s stock.
Several other equities research analysts have also recently weighed in on RSG. Zacks Investment Research cut shares of Republic Services from a buy rating to a hold rating in a research note on Tuesday, July 4th. Stifel Nicolaus reiterated a buy rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. Barclays PLC reiterated a neutral rating on shares of Republic Services in a research note on Friday, July 28th. Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the company a hold rating in a research note on Saturday, July 29th. Finally, BidaskClub cut shares of Republic Services from a hold rating to a sell rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $71.33.
Shares of Republic Services (NYSE RSG) traded down 0.60% during mid-day trading on Friday, reaching $62.95. The company’s stock had a trading volume of 145,754 shares. Republic Services has a 12 month low of $49.44 and a 12 month high of $67.18. The company has a 50 day moving average price of $65.36 and a 200 day moving average price of $64.13. The stock has a market capitalization of $21.20 billion, a P/E ratio of 32.32 and a beta of 0.60.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts anticipate that Republic Services will post $2.38 earnings per share for the current fiscal year.
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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 paid a dividend of $0.345 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.18%. Republic Services’s dividend payout ratio (DPR) is currently 70.77%.
In other Republic Services news, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now owns 246,617 shares in the company, valued at $16,289,052.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the transaction, the executive vice president now owns 428 shares of the company’s stock, valued at approximately $28,462. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,187 shares of company stock valued at $2,854,922. Corporate insiders own 0.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Intl Fcstone Inc. lifted its stake in Republic Services by 89.1% during the second quarter. Intl Fcstone Inc. now owns 23,131 shares of the business services provider’s stock worth $1,474,000 after purchasing an additional 10,900 shares during the period. Cetera Investment Advisers bought a new position in Republic Services during the second quarter worth about $211,000. Advisory Services Network LLC lifted its stake in Republic Services by 6.3% during the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after purchasing an additional 223 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Republic Services during the second quarter worth about $702,000. Finally, Tandem Investment Advisors Inc. lifted its stake in Republic Services by 18.2% during the second quarter. Tandem Investment Advisors Inc. now owns 179,631 shares of the business services provider’s stock worth $11,448,000 after purchasing an additional 27,666 shares during the period. Hedge funds and other institutional investors own 60.50% 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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