Republic Services (NYSE:RSG) had its price target cut by analysts at BMO Capital Markets from $107.00 to $102.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has an "outperform" rating on the business services provider's stock. BMO Capital Markets' price objective indicates a potential upside of 13.76% from the company's current price.
Several other brokerages also recently issued reports on RSG. Raymond James increased their price objective on shares of Republic Services from $97.00 to $102.00 and gave the company an "outperform" rating in a research report on Friday, November 6th. Argus increased their price target on Republic Services from $102.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, November 18th. JPMorgan Chase & Co. upgraded shares of Republic Services from a "neutral" rating to an "overweight" rating and set a $102.00 target price for the company in a research note on Tuesday. They noted that the move was a valuation call. Robert W. Baird lowered shares of Republic Services from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $103.00 to $96.00 in a research note on Tuesday, February 16th. Finally, Bank of America lowered shares of Republic Services from a "buy" rating to a "neutral" rating in a research note on Monday, January 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of "Hold" and an average target price of $98.54.
Shares of RSG stock traded up $0.70 during trading hours on Wednesday, hitting $89.66. 24,837 shares of the company were exchanged, compared to its average volume of 1,272,012. The firm has a market cap of $28.58 billion, a PE ratio of 28.11, a PEG ratio of 2.77 and a beta of 0.64. Republic Services has a 1 year low of $65.37 and a 1 year high of $103.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $92.75 and a 200 day moving average of $93.92.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Sunday, February 21st. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. Republic Services had a net margin of 10.05% and a return on equity of 13.59%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. Analysts expect that Republic Services will post 3.37 earnings per share for the current year.
Republic Services declared that its board has initiated a stock repurchase plan on Thursday, November 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
In other news, CEO Donald W. Slager sold 43,199 shares of the stock in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $94.85, for a total value of $4,097,425.15. Following the completion of the transaction, the chief executive officer now directly owns 299,080 shares in the company, valued at $28,367,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.
Institutional investors have recently bought and sold shares of the company. Advisor Partners LLC lifted its stake in Republic Services by 0.9% during the third quarter. Advisor Partners LLC now owns 11,836 shares of the business services provider's stock valued at $1,105,000 after purchasing an additional 102 shares during the last quarter. Oakworth Capital Inc. lifted its stake in Republic Services by 9.3% during the third quarter. Oakworth Capital Inc. now owns 1,291 shares of the business services provider's stock valued at $121,000 after purchasing an additional 110 shares during the last quarter. PAX Financial Group LLC lifted its stake in Republic Services by 2.3% during the fourth quarter. PAX Financial Group LLC now owns 5,256 shares of the business services provider's stock valued at $506,000 after purchasing an additional 120 shares during the last quarter. Alhambra Investment Partners LLC lifted its position in shares of Republic Services by 5.2% in the 4th quarter. Alhambra Investment Partners LLC now owns 2,710 shares of the business services provider's stock valued at $261,000 after acquiring an additional 135 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Republic Services by 4.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,144 shares of the business services provider's stock valued at $293,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 56.78% of the company's stock.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. 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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