BidaskClub Downgrades Republic Services, Inc. (RSG) to Sell
Republic Services, Inc. (NYSE:RSG) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other equities analysts also recently issued reports on RSG. Credit Suisse Group set a $63.00 price target on Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Thursday, May 25th. BMO Capital Markets upped their price target on Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price target on shares of Republic Services in a research report on Wednesday, July 19th. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of Republic Services in a research report on Friday, July 28th. One 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. The company presently has an average rating of “Hold” and an average target price of $69.78.
Shares of Republic Services (RSG) opened at 64.65 on Thursday. The stock has a market cap of $21.77 billion, a PE ratio of 33.19 and a beta of 0.58. The firm has a 50-day moving average price of $64.42 and a 200 day moving average price of $62.82. Republic Services has a 12-month low of $49.18 and a 12-month high of $65.54.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. Equities research analysts expect that Republic Services will post $2.39 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC increased its position in 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 increased its position in 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. Parallel Advisors LLC purchased a new position in Republic Services during the fourth quarter valued at about $120,000. Cribstone Capital Management LLC purchased a new position in Republic Services during the first quarter valued at about $121,000. Finally, TLP Group LLC purchased a new position in Republic Services during the third quarter valued at about $125,000. 61.33% of the stock is currently owned by hedge funds and other institutional investors.
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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