Morgan Stanley Issues Positive Forecast for Republic Services (NYSE:RSG) Stock Price

Republic Services (NYSE:RSG) had its target price hoisted by Morgan Stanley from $217.00 to $220.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other analysts also recently issued reports on the stock. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and upped their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a report on Tuesday. William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.06.

Republic Services Stock Down 0.0 %

RSG stock opened at $210.25 on Thursday. The company has a market cap of $65.84 billion, a P/E ratio of 33.64, a P/E/G ratio of 3.21 and a beta of 0.71. Republic Services has a 52 week low of $160.65 and a 52 week high of $220.58. The company’s 50-day moving average price is $208.36 and its 200 day moving average price is $201.56. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, research analysts expect that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Buying and Selling

In other news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Services

Several large investors have recently made changes to their positions in the business. Simmons Bank increased its position in shares of Republic Services by 2.8% in the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after acquiring an additional 51 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after purchasing an additional 52 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Republic Services by 2.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after purchasing an additional 53 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 54 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in Republic Services by 3.8% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock valued at $310,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.