Republic Services (NYSE:RSG) Price Target Raised to $217.00 at CIBC

Republic Services (NYSE:RSG) had its target price boosted by CIBC from $208.00 to $217.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on RSG. Robert W. Baird lifted their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Price Performance

Republic Services stock opened at $198.76 on Wednesday. The business’s 50 day simple moving average is $203.77 and its 200 day simple moving average is $196.65. Republic Services has a 12 month low of $146.82 and a 12 month high of $208.69. The company has a market cap of $62.42 billion, a price-to-earnings ratio of 31.80, a PEG 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.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Republic Services will post 6.18 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s payout ratio is presently 37.12%.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Several institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its position 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 worth $28,000 after buying an additional 109 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Republic Services during the first quarter worth approximately $29,000. Webster Bank N. A. bought a new stake in shares of Republic Services in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Republic Services during the 2nd quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Republic Services in the 2nd quarter worth $45,000. 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.