Oppenheimer Raises Republic Services (NYSE:RSG) Price Target to $268.00

Republic Services (NYSE:RSG - Free Report) had its target price lifted by Oppenheimer from $262.00 to $268.00 in a research note published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider's stock.

A number of other equities analysts also recently commented on RSG. Royal Bank Of Canada reissued an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a research report on Friday, April 25th. Raymond James Financial reissued an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. Truist Financial boosted their price objective on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. UBS Group boosted their price objective on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Citigroup boosted their target price on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $255.21.

Republic Services Trading Up 0.5%

Shares of NYSE:RSG traded up $1.27 during midday trading on Wednesday, reaching $240.58. 1,386,935 shares of the company's stock were exchanged, compared to its average volume of 1,145,708. The stock has a market cap of $75.18 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 3.72 and a beta of 0.61. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The firm's 50 day simple moving average is $248.73 and its two-hundred day simple moving average is $234.04. Republic Services has a fifty-two week low of $188.82 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. Republic Services's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. As a group, sell-side analysts forecast that Republic Services will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. Republic Services's payout ratio is 34.99%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RSG. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc lifted its holdings in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Republic Services in the 1st quarter worth approximately $30,000. Finally, New Age Alpha Advisors LLC lifted its holdings in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

About Republic Services

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.