Republic Services (RSG) Price Target Cut to $64.00

Republic Services (NYSE:RSG) had its price target decreased by Credit Suisse Group from $67.00 to $64.00 in a report issued on Monday. Credit Suisse Group currently has a neutral rating on the business services provider’s stock.

Several other research analysts also recently commented on RSG. BMO Capital Markets reduced their price target on shares of Republic Services from $74.00 to $70.00 and set an outperform rating on the stock in a research note on Friday, February 9th. Zacks Investment Research raised shares of Republic Services from a hold rating to a strong-buy rating and set a $75.00 price target on the stock in a research note on Wednesday, February 7th. Bank of America raised their price target on shares of Republic Services from $70.00 to $73.00 and gave the stock a buy rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus raised shares of Republic Services from a hold rating to a buy rating and raised their price target for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $68.57.

Republic Services (RSG) opened at $64.22 on Monday. The company has a market cap of $21,369.89, a PE ratio of 26.44, a P/E/G ratio of 2.05 and a beta of 0.54. Republic Services has a 12 month low of $58.60 and a 12 month high of $69.40. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.94.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. analysts forecast that Republic Services will post 3.08 earnings per share for the current fiscal year.

Republic Services declared that its Board of Directors has initiated a stock buyback program on Thursday, November 2nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, March 29th. Republic Services’s payout ratio is 36.41%.

In other Republic Services news, CEO Donald W. Slager sold 98,132 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the transaction, the chief executive officer now directly owns 322,541 shares in the company, valued at approximately $20,703,906.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian A. Goebel sold 2,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $67.88, for a total transaction of $135,760.00. Following the transaction, the chief accounting officer now owns 6,696 shares in the company, valued at $454,524.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,642 shares of company stock worth $6,741,314. 0.40% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of RSG. Patten Group Inc. boosted its holdings in shares of Republic Services by 279.6% in the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock valued at $327,000 after buying an additional 13,839 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after buying an additional 223 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Republic Services by 9.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock valued at $1,230,000 after buying an additional 1,544 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Republic Services in the 3rd quarter valued at about $1,897,000. Finally, Macquarie Group Ltd. boosted its holdings in shares of Republic Services by 1,040.0% in the 2nd quarter. Macquarie Group Ltd. now owns 5,700 shares of the business services provider’s stock valued at $364,000 after buying an additional 5,200 shares in the last quarter. Institutional investors own 59.31% of the company’s stock.

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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.

Analyst Recommendations for Republic Services (NYSE:RSG)

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