Republic Services (NYSE:RSG) Price Target Lowered to $241.00 at Bank of America

Republic Services (NYSE:RSG) had its price objective reduced by Bank of America from $271.00 to $241.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

RSG has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group set a $248.00 price target on shares of Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Stifel Nicolaus reduced their target price on Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. Barclays initiated coverage on shares of Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price for the company. Finally, UBS Group reduced their price objective on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $250.64.

Republic Services Price Performance

RSG opened at $212.96 on Monday. The company has a 50 day moving average of $213.92 and a two-hundred day moving average of $228.34. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services has a 52-week low of $199.43 and a 52-week high of $258.75. The company has a market cap of $65.92 billion, a P/E ratio of 31.69, a P/E/G ratio of 3.41 and a beta of 0.54.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Republic Services will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 37.20%.

Insider Buying and Selling

In other news, Director Katharine Weymouth purchased 478 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was bought at an average price of $209.46 per share, with a total value of $100,121.88. Following the acquisition, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Several institutional investors have recently modified their holdings of RSG. Financial Consulate Inc. acquired a new stake in Republic Services in the 3rd quarter valued at $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services in the 3rd quarter valued at $26,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after acquiring an additional 67 shares during the period. Finally, NewSquare Capital LLC boosted its stake in shares of Republic Services by 68.5% in the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after buying an additional 50 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.