Republic Services (NYSE:RSG) Price Target Raised to $260.00

Republic Services (NYSE:RSG - Free Report) had its price objective upped by Scotiabank from $250.00 to $260.00 in a research report sent to investors on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the business services provider's stock.

Several other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research note on Monday, June 9th. Citigroup lifted their target price on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a report on Friday, April 25th. Finally, Melius started coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating for the company. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.74.

Republic Services Stock Up 0.1%

RSG stock traded up $0.18 during trading on Friday, reaching $240.35. 1,338,092 shares of the company traded hands, compared to its average volume of 1,160,258. Republic Services has a 12 month low of $188.82 and a 12 month high of $258.75. The business has a 50 day simple moving average of $247.26 and a 200 day simple moving average of $236.18. The company has a market capitalization of $75.11 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 3.64 and a beta of 0.61. 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 (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $1.45 earnings per share. On average, equities research analysts anticipate that Republic Services will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is 34.99%.

Institutional Investors Weigh In On Republic Services

Several hedge funds have recently made changes to their positions in RSG. Versant Capital Management Inc increased its holdings in shares of Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after buying an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Republic Services by 0.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC grew its holdings in shares of Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after acquiring an additional 46 shares in the last quarter. Gries Financial LLC raised its holdings in shares of Republic Services by 3.8% in the 2nd quarter. Gries Financial LLC now owns 1,249 shares of the business services provider's stock valued at $308,000 after purchasing an additional 46 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in Republic Services by 17.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider's stock valued at $75,000 after buying an additional 46 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Company Profile

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.