Republic Services, Inc. (NYSE:RSG) – Analysts at Jefferies Financial Group reduced their FY2022 earnings per share estimates for Republic Services in a report released on Wednesday, March 18th. Jefferies Financial Group analyst H. Mazari now expects that the business services provider will earn $4.29 per share for the year, down from their prior forecast of $4.35. Jefferies Financial Group has a “Buy” rating and a $100.00 price target on the stock.
A number of other analysts have also recently weighed in on RSG. Deutsche Bank raised their price target on shares of Republic Services from $96.00 to $102.00 and gave the company a “hold” rating in a report on Friday, February 14th. Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 11th. Oppenheimer upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and set a $109.00 target price for the company in a research note on Friday, February 28th. BMO Capital Markets lifted their target price on shares of Republic Services from $98.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, CIBC started coverage on shares of Republic Services in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $99.00 target price for the company. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $98.91.
NYSE:RSG opened at $71.54 on Monday. Republic Services has a fifty-two week low of $70.52 and a fifty-two week high of $100.91. The stock has a market capitalization of $23.61 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.67 and a beta of 0.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.52. The company’s 50-day simple moving average is $93.76 and its 200-day simple moving average is $89.76.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Republic Services had a net margin of 10.42% and a return on equity of 13.44%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.62 billion.
Large investors have recently bought and sold shares of the company. Alpha Windward LLC purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $29,000. Mine & Arao Wealth Creation & Management LLC. purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $34,000. Engrave Wealth Partners LLC purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $33,000. Pacitti Group Inc. purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $44,000. Finally, CNB Bank purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $49,000. 58.89% of the stock is owned by hedge funds and other institutional investors.
In other Republic Services news, Director Ramon A. Rodriguez sold 4,127 shares of Republic Services stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.46, for a total transaction of $414,598.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles F. Serianni sold 1,500 shares of Republic Services stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $99.55, for a total transaction of $149,325.00. Following the sale, the chief financial officer now owns 48,768 shares of the company’s stock, valued at $4,854,854.40. The disclosure for this sale can be found here. Insiders sold a total of 34,754 shares of company stock valued at $3,420,724 over the last quarter. 0.30% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, March 31st. Republic Services’s dividend payout ratio (DPR) is presently 48.50%.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company’s collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.