Republic Services (NYSE:RSG) Price Target Cut to $210.00 by Analysts at Oppenheimer

Republic Services (NYSE:RSG) had its target price lowered by Oppenheimer from $211.00 to $210.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

RSG has been the subject of several other reports. UBS Group lifted their price objective on Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted their price target on Republic Services from $215.00 to $230.00 and gave the company a buy rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a research note on Thursday, May 23rd. They set a hold rating and a $203.00 price objective on the stock. Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and boosted their target price for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Finally, StockNews.com cut shares of Republic Services from a strong-buy rating to a buy rating in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Republic Services presently has an average rating of Moderate Buy and a consensus target price of $211.69.

Republic Services Price Performance

Republic Services stock opened at $190.30 on Thursday. The company has a market capitalization of $59.93 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.15 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a 12 month low of $140.23 and a 12 month high of $206.54. The stock’s 50 day moving average is $192.24 and its 200-day moving average is $186.16.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts expect that Republic Services will post 6.17 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio is 37.54%.

Insider Transactions at Republic Services

In related news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Republic Services news, Director Katharine Weymouth acquired 540 shares of the stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the transaction, the director now owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Republic Services

Hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new stake in shares of Republic Services during the 1st quarter worth approximately $29,000. EntryPoint Capital LLC bought a new position in Republic Services during the first quarter worth $29,000. Bogart Wealth LLC bought a new stake in Republic Services in the fourth quarter valued at $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services during the fourth quarter valued at about $34,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

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.