Republic Services (NYSE:RSG) Research Coverage Started at Scotiabank

by · The Markets Daily

Scotiabank assumed coverage on shares of Republic Services (NYSE:RSG – Free Report) in a report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $224.00 price objective on the business services provider’s stock.

A number of other brokerages also recently issued reports on RSG. Royal Bank of Canada lifted their price target on Republic Services from $201.00 to $211.00 and gave the stock a sector perform rating in a report on Thursday, July 25th. CIBC upped their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a neutral rating in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on shares of Republic Services from $209.00 to $211.00 and gave the company a market perform rating in a research note on Thursday, July 25th. StockNews.com lowered Republic Services from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Finally, Truist Financial raised Republic Services from a hold rating to a buy rating and increased their price objective for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $211.65.

Read Our Latest Stock Analysis on RSG

Republic Services Trading Down 0.6 %

NYSE:RSG opened at $200.67 on Friday. Republic Services has a 12-month low of $141.80 and a 12-month high of $208.69. The firm has a market cap of $63.02 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average price of $202.55 and a 200 day moving average price of $194.96.

Republic Services (NYSE:RSG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Sell-side analysts anticipate that Republic Services will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s payout ratio is 40.70%.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Services

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Republic Services by 4.9% in the 4th quarter. Rafferty Asset Management LLC now owns 17,156 shares of the business services provider’s stock valued at $2,829,000 after acquiring an additional 803 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in Republic Services during the fourth quarter worth about $242,000. Crossmark Global Holdings Inc. lifted its stake in shares of Republic Services by 0.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 16,814 shares of the business services provider’s stock worth $2,773,000 after purchasing an additional 109 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Republic Services by 31.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the business services provider’s stock worth $1,390,000 after buying an additional 2,026 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Company Profile

(Get Free Report)

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.

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