Republic Services (NYSE:RSG) Reaches New 1-Year High After Analyst Upgrade

Republic Services, Inc. (NYSE:RSG)’s stock price reached a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $229.00 to $275.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Republic Services traded as high as $253.66 and last traded at $253.18, with a volume of 465580 shares changing hands. The stock had previously closed at $251.00.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group upped their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup upped their price objective on Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. UBS Group upped their price objective on Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Robert W. Baird upped their price objective on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Finally, Truist Financial upped their price objective on Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $250.44.

Institutional Investors Weigh In On Republic Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC raised its position in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Arcadia Investment Management Corp MI raised its position in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares during the period. Key Financial Inc raised its position in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC raised its position in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the period. Finally, Elequin Capital LP purchased a new stake in Republic Services during the first quarter valued at approximately $30,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The business has a 50-day simple moving average of $242.93 and a 200-day simple moving average of $225.72. The firm has a market capitalization of $79.00 billion, a PE ratio of 38.95, a P/E/G ratio of 3.64 and a beta of 0.66.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business posted $1.45 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.92%. Republic Services’s payout ratio is 34.99%.

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.