Republic Services, Inc. (RSG) PT Lowered to $67.00 at Credit Suisse Group
Republic Services, Inc. (NYSE:RSG) had its price target lowered by Credit Suisse Group from $69.00 to $67.00 in a report issued on Monday. The firm presently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price objective points to a potential upside of 5.31% from the stock’s previous close.
Several other brokerages also recently weighed in on RSG. BidaskClub downgraded shares of Republic Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Barclays PLC restated a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, July 14th. BMO Capital Markets raised their target price on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.71.
Shares of Republic Services (NYSE RSG) traded down $0.28 on Monday, reaching $63.62. 972,264 shares of the company’s stock traded hands, compared to its average volume of 1,279,167. The company has a market capitalization of $21,356.95, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.88 and a beta of 0.61. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. analysts anticipate that Republic Services will post 2.37 EPS for the current year.
Republic Services announced that its board has approved a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now owns 428 shares of the company’s stock, valued at $28,462. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the transaction, the insider now directly owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The disclosure for this sale can be found here. Insiders have sold 43,187 shares of company stock valued at $2,854,922 over the last quarter. Insiders own 0.40% of the company’s stock.
Several institutional investors have recently modified their holdings of RSG. BlackRock Inc. increased its holdings in Republic Services by 2,800.0% in 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 buying an additional 18,401,448 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Republic Services by 13,584.4% in the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after buying an additional 3,717,509 shares in the last quarter. Norges Bank purchased a new position in Republic Services in the fourth quarter valued at $147,798,000. Cohen & Steers Inc. increased its holdings in Republic Services by 77,955.4% in the second quarter. Cohen & Steers Inc. now owns 2,107,495 shares of the business services provider’s stock valued at $134,711,000 after buying an additional 2,104,795 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Republic Services by 27.1% in the third quarter. JPMorgan Chase & Co. now owns 5,622,021 shares of the business services provider’s stock valued at $283,630,000 after buying an additional 1,198,570 shares in the last quarter. 60.71% of the stock is 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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