Republic Services, Inc. (RSG) Given New $72.00 Price Target at BMO Capital Markets
Republic Services, Inc. (NYSE:RSG) had its price objective boosted by BMO Capital Markets from $71.00 to $72.00 in a report published on Friday. The brokerage currently has an outperform rating on the business services provider’s stock.
RSG has been the subject of several other research reports. Zacks Investment Research lowered Republic Services from a buy rating to a hold rating in a research report on Tuesday, June 6th. Credit Suisse Group set a $63.00 target price on Republic Services and gave the company a hold rating in a research report on Sunday, April 30th. Wedbush boosted their target price on Republic Services from $62.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, March 30th. Finally, Stifel Nicolaus restated a buy rating and set a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $68.60.
Republic Services (RSG) opened at 64.22 on Friday. The company has a market cap of $21.63 billion, a price-to-earnings ratio of 32.97 and a beta of 0.59. The firm’s 50-day moving average price is $64.36 and its 200-day moving average price is $62.28. Republic Services has a 52-week low of $49.18 and a 52-week high of $65.54.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Republic Services will post $2.38 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.345 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.15%. Republic Services’s payout ratio is presently 65.64%.
Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its stake in shares of Republic Services by 4.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,970 shares of the business services provider’s stock worth $455,000 after buying an additional 340 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Republic Services during the fourth quarter worth about $957,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Republic Services during the fourth quarter worth about $427,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Republic Services by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 199,222 shares of the business services provider’s stock worth $12,513,000 after buying an additional 5,628 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its stake in shares of Republic Services by 0.8% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 419,621 shares of the business services provider’s stock worth $26,356,000 after buying an additional 3,265 shares during the last quarter. Hedge funds and other institutional investors own 61.58% 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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