Republic Services, Inc. (RSG) Receives Average Rating of “Hold” from Analysts
Shares of Republic Services, Inc. (NYSE:RSG) have been given an average rating of “Hold” by the twelve analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $74.00.
A number of brokerages have recently weighed in on RSG. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Friday, June 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $73.00 price target on shares of Republic Services in a research note on Wednesday, July 19th. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research note on Thursday. Finally, KeyCorp reissued a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th.
A number of hedge funds have recently added to or reduced their stakes in RSG. BlackRock Inc. lifted its stake in Republic Services by 2,800.0% during the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after purchasing an additional 18,401,448 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Republic Services by 13,584.4% in the 2nd quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after acquiring an additional 3,717,509 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Republic Services by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after acquiring an additional 1,086,931 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Republic Services by 89.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock valued at $105,397,000 after acquiring an additional 778,800 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Republic Services in the 1st quarter valued at approximately $39,751,000. 60.59% of the stock is owned by institutional investors and hedge funds.
Republic Services (NYSE RSG) traded up 1.32% during midday trading on Friday, hitting $65.46. 909,469 shares of the stock were exchanged. The stock has a market cap of $22.04 billion, a price-to-earnings ratio of 33.60 and a beta of 0.60. The firm’s 50-day moving average is $64.60 and its 200 day moving average is $63.54. Republic Services has a 52 week low of $49.18 and a 52 week high of $65.58.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 8.05% and a return on equity of 10.61%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Equities research analysts expect that Republic Services will post $2.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a dividend of $0.345 per share. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 2.11%. Republic Services’s dividend payout ratio is currently 65.64%.
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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