Republic Services (NYSE:RSG) Cut to Hold at Argus

Key Points

• Argus downgraded Republic Services from buy to hold, reflecting a more cautious view on the stock after recent analyst updates.
• Despite the downgrade, Republic Services beat earnings expectations for the latest quarter, reporting $1.70 EPS versus the $1.64 estimate and slightly topping revenue forecasts at $4.11 billion.
• The stock was trading near its 52-week low at $199.82, while analysts’ average target price sits at $246.30 and the consensus rating is Hold.

Republic Services (NYSE:RSG - Get Free Report) was downgraded by equities researchers at Argus from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports.

RSG has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their target price on shares of Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Weiss Ratings downgraded shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 target price on shares of Republic Services in a research report on Friday. Oppenheimer cut their target price on shares of Republic Services from $256.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, January 23rd. Finally, Barclays set a $233.00 price objective on shares of Republic Services in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $246.30.

Republic Services Trading Down 0.1%

RSG stock opened at $199.82 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.64. The company has a market capitalization of $61.74 billion, a PE ratio of 28.67, a P/E/G ratio of 3.32 and a beta of 0.43. The firm's 50-day moving average is $217.64 and its 200 day moving average is $215.64. Republic Services has a 12 month low of $198.24 and a 12 month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, May 7th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. On average, research analysts anticipate that Republic Services will post 7.22 EPS for the current year.

Institutional Trading of Republic Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. lifted its stake in shares of Republic Services by 7,683.2% in the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider's stock valued at $169,768,000 after purchasing an additional 730,287 shares during the period. National Pension Service raised its position in Republic Services by 1.2% during the third quarter. National Pension Service now owns 758,644 shares of the business services provider's stock worth $174,094,000 after acquiring an additional 9,041 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in Republic Services during the third quarter worth $3,524,000. SteelPeak Wealth LLC raised its position in Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider's stock worth $2,625,000 after acquiring an additional 7,001 shares during the period. Finally, Citigroup Inc. raised its position in Republic Services by 68.8% during the third quarter. Citigroup Inc. now owns 352,462 shares of the business services provider's stock worth $80,883,000 after acquiring an additional 143,704 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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