Republic Services, Inc. (RSG) Earns “Hold” Rating from KeyCorp
A number of other brokerages also recently issued reports on RSG. Zacks Investment Research raised shares of Republic Services from a hold rating to a buy rating and set a $72.00 price objective for the company in a research report on Friday, June 16th. Stifel Nicolaus reissued a buy rating and set a $73.00 price objective on shares of Republic Services in a research report on Wednesday, July 19th. BidaskClub downgraded shares of Republic Services from a hold rating to a sell rating in a research report on Thursday, August 17th. BMO Capital Markets boosted their price objective 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. Finally, Barclays PLC reissued a neutral rating on shares of Republic Services in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Republic Services has a consensus rating of Hold and an average target price of $71.88.
Republic Services (RSG) traded up 0.33% during mid-day trading on Thursday, reaching $64.37. The company had a trading volume of 1,045,760 shares. The stock has a market capitalization of $21.68 billion, a PE ratio of 33.04 and a beta of 0.58. The company’s 50-day moving average is $64.50 and its 200-day moving average is $63.13. Republic Services has a one year low of $49.18 and a one year high of $65.54.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Republic Services will post $2.39 earnings per share for the current year.
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The business 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 $0.345 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.38 annualized dividend and a yield of 2.14%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s payout ratio is presently 65.64%.
A number of hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC boosted its stake in shares of Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after buying an additional 521 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,672 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Republic Services during the second quarter valued at approximately $141,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares during the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in shares of Republic Services during the second quarter valued at approximately $191,000. Institutional investors and hedge funds own 61.33% 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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