Raymond James Financial Lowers Republic Services (RSG) to Market Perform

Raymond James Financial lowered shares of Republic Services (NYSE:RSG) from a strong-buy rating to a market perform rating in a research note released on Wednesday, Marketbeat Ratings reports. Raymond James Financial currently has $72.00 price target on the business services provider’s stock.

RSG has been the topic of a number of other research reports. Stifel Nicolaus raised Republic Services from a hold rating to a buy rating and increased their price target for the company from $70.00 to $73.00 in a research report on Thursday, January 4th. Zacks Investment Research lowered Republic Services from a buy rating to a hold rating in a research report on Thursday, February 1st. BMO Capital Markets reduced their price target on Republic Services from $74.00 to $70.00 and set an outperform rating on the stock in a research report on Friday, February 9th. UBS assumed coverage on Republic Services in a research report on Wednesday, March 14th. They issued a buy rating and a $78.00 price target on the stock. Finally, Credit Suisse Group reduced their price target on Republic Services from $67.00 to $64.00 and set a neutral rating on the stock in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Republic Services presently has an average rating of Hold and an average target price of $70.50.

RSG stock opened at $65.52 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $21,707.73, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.09 and a beta of 0.54. Republic Services has a 1 year low of $60.26 and a 1 year high of $69.40.



Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. Republic Services’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. equities analysts forecast that Republic Services will post 3.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 29th. Republic Services’s dividend payout ratio (DPR) is presently 56.79%.

In other news, CAO Brian A. Goebel sold 1,290 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total transaction of $88,287.60. Following the sale, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at approximately $458,274.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian A. Goebel sold 1,220 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $68.06, for a total value of $83,033.20. Following the sale, the chief accounting officer now directly owns 7,406 shares in the company, valued at approximately $504,052.36. The disclosure for this sale can be found here. Insiders have sold a total of 28,364 shares of company stock worth $1,915,201 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RSG. Macquarie Group Ltd. raised its position in shares of Republic Services by 17.5% during the 3rd quarter. Macquarie Group Ltd. now owns 6,700 shares of the business services provider’s stock worth $443,000 after acquiring an additional 1,000 shares in the last quarter. Stifel Financial Corp grew its stake in Republic Services by 2.5% during the 3rd quarter. Stifel Financial Corp now owns 108,961 shares of the business services provider’s stock worth $7,205,000 after buying an additional 2,704 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Republic Services by 3.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 24,071 shares of the business services provider’s stock worth $1,590,000 after buying an additional 854 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its stake in Republic Services by 0.8% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 200,150 shares of the business services provider’s stock worth $13,222,000 after buying an additional 1,671 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its stake in Republic Services by 81.3% during the 3rd quarter. Vident Investment Advisory LLC now owns 7,983 shares of the business services provider’s stock worth $527,000 after buying an additional 3,580 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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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; supply of waste containers; and renting of compactors.

Analyst Recommendations for Republic Services (NYSE:RSG)

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