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

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

Other analysts have also issued research reports about the company. Citigroup upped their target price on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $280.00 target price (up from $268.00) on shares of Republic Services in a research report on Monday, June 9th. JPMorgan Chase & Co. upped their target price on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Melius initiated coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Finally, Raymond James Financial restated an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $255.21.

Republic Services Stock Performance

NYSE RSG traded up $1.15 on Wednesday, reaching $241.24. The stock had a trading volume of 1,768,355 shares, compared to its average volume of 1,153,153. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services has a 12-month low of $188.82 and a 12-month high of $258.75. The business's 50-day moving average price is $248.14 and its 200 day moving average price is $234.60. The stock has a market cap of $75.39 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 3.68 and a beta of 0.61.

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

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date 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 Investors Weigh In On Republic Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after buying an additional 170,548 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Republic Services by 3.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock valued at $1,259,855,000 after buying an additional 218,729 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Republic Services by 0.7% in the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock valued at $1,438,237,000 after buying an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Republic Services by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after purchasing an additional 17,711 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock worth $918,045,000 after purchasing an additional 57,616 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.