Scotiabank Issues Pessimistic Forecast for Republic Services (NYSE:RSG) Stock Price

Republic Services (NYSE:RSG) had its price target cut by investment analysts at Scotiabank from $250.00 to $246.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s price target indicates a potential upside of 17.99% from the stock’s previous close.

Several other equities research analysts also recently issued reports on RSG. Raymond James Financial set a $260.00 price target on shares of Republic Services and gave the stock an “outperform” rating in a research note on Monday, October 6th. Oppenheimer set a $256.00 price target on shares of Republic Services in a research note on Friday. Stifel Nicolaus dropped their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group dropped their target price on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $253.65.

Republic Services Stock Performance

Republic Services stock opened at $208.49 on Friday. Republic Services has a 12-month low of $197.60 and a 12-month high of $258.75. The company has a market capitalization of $65.09 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The firm’s fifty day moving average price is $225.66 and its 200 day moving average price is $237.67.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 30th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts forecast that Republic Services will post 6.86 EPS for the current fiscal year.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in Republic Services by 3,533.3% during the 1st 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. Financial Consulate Inc. acquired a new position in Republic Services during the 3rd quarter valued at about $25,000. Cranbrook Wealth Management LLC boosted its stake in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 110 shares during the period. NewSquare Capital LLC boosted its stake in Republic Services by 68.5% during the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Finally, TCTC Holdings LLC boosted its stake in Republic Services by 113.8% during the 1st 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. 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.