Republic Services (NYSE:RSG) Price Target Raised to $204.00

Republic Services (NYSE:RSG) had its price target upped by Oppenheimer from $202.00 to $204.00 in a research report report published on Wednesday, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other analysts also recently commented on RSG. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a buy rating in a report on Tuesday, April 16th. Citigroup boosted their price objective on Republic Services from $190.00 to $215.00 and gave the company a buy rating in a report on Thursday, February 29th. BMO Capital Markets raised their target price on Republic Services from $173.00 to $195.00 and gave the stock a market perform rating in a report on Wednesday, February 28th. Royal Bank of Canada started coverage on Republic Services in a report on Monday, April 8th. They issued a sector perform rating and a $198.00 price target for the company. Finally, Scotiabank assumed coverage on shares of Republic Services in a research note on Monday, April 8th. They set a sector perform rating and a $211.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of Moderate Buy and a consensus price target of $201.00.

Republic Services Price Performance

Shares of RSG opened at $185.51 on Wednesday. The company has a 50 day moving average of $188.01 and a two-hundred day moving average of $171.68. The company has a quick ratio of 0.56, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a twelve month low of $140.07 and a twelve month high of $196.76. The company has a market cap of $58.43 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.25 and a beta of 0.67.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 EPS. As a group, analysts predict that Republic Services will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is 37.54%.

Insider Buying and Selling

In other news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Schechter Investment Advisors LLC raised its holdings in Republic Services by 19.4% during the third quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock worth $398,000 after purchasing an additional 453 shares in the last quarter. abrdn plc lifted its position in Republic Services by 64.1% in the fourth quarter. abrdn plc now owns 96,531 shares of the business services provider’s stock valued at $15,919,000 after acquiring an additional 37,690 shares during the last quarter. First Financial Corp IN grew its holdings in shares of Republic Services by 4.7% during the fourth quarter. First Financial Corp IN now owns 2,858 shares of the business services provider’s stock worth $471,000 after purchasing an additional 128 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Republic Services by 217.7% in the 4th quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock valued at $12,539,000 after purchasing an additional 52,104 shares during the last quarter. Finally, Robeco Schweiz AG boosted its position in shares of Republic Services by 65.9% in the 3rd quarter. Robeco Schweiz AG now owns 34,500 shares of the business services provider’s stock valued at $4,917,000 after purchasing an additional 13,700 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.