Shares of Republic Services, Inc. (NYSE:RSG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $90.60 and last traded at $90.51, with a volume of 51177 shares traded. The stock had previously closed at $89.92.
Several equities research analysts have issued reports on RSG shares. Royal Bank of Canada set a $91.00 price objective on shares of Republic Services and gave the stock a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. started coverage on shares of Republic Services in a research report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price objective for the company. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Bank of America restated a “neutral” rating and set a $85.00 price objective (up from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Finally, Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Monday, April 29th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $84.67.
The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41. The business’s 50-day moving average price is $88.31 and its two-hundred day moving average price is $83.02. The company has a market capitalization of $28.72 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 3.05 and a beta of 0.50.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts predict that Republic Services, Inc. will post 3.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 30th. Republic Services’s payout ratio is presently 48.54%.
In other news, EVP Catharine D. Ellingsen sold 3,100 shares of Republic Services stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 14,307 shares in the company, valued at $1,287,630. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Bank & Trust bought a new position in Republic Services in the second quarter valued at approximately $35,000. Gemmer Asset Management LLC grew its stake in shares of Republic Services by 140.2% in the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after purchasing an additional 265 shares during the last quarter. CWM LLC grew its stake in shares of Republic Services by 109.9% in the first quarter. CWM LLC now owns 468 shares of the business services provider’s stock worth $38,000 after purchasing an additional 245 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of Republic Services in the first quarter worth $40,000. Finally, Glassman Wealth Services grew its stake in shares of Republic Services by 44.9% in the first quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock worth $41,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 59.61% of the company’s stock.
Republic Services Company Profile (NYSE:RSG)
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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