Republic Services (NYSE:RSG) Given New $220.00 Price Target at Oppenheimer

Republic Services (NYSE:RSG) had its price objective hoisted by Oppenheimer from $219.00 to $220.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other research firms have also issued reports on RSG. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC upped their target price on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets upped their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Stock Performance

RSG opened at $198.58 on Wednesday. The stock has a market cap of $62.19 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $203.43 and its 200 day simple moving average is $196.81. Republic Services has a 1-year low of $148.36 and a 1-year high of $208.69.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 EPS. As a group, equities analysts anticipate that Republic Services will post 6.23 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. Republic Services’s payout ratio is 37.12%.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Several large investors have recently added to or reduced their stakes in RSG. Wolff Wiese Magana LLC increased its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Republic Services in the 1st quarter valued at $29,000. Webster Bank N. A. acquired a new stake in Republic Services in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in Republic Services in the 2nd quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in Republic Services in the 2nd quarter valued at $45,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.