Republic Services (NYSE:RSG) Hits New 12-Month High – Here’s Why

Republic Services, Inc. (NYSE:RSG) shares reached a new 52-week high on Wednesday . The stock traded as high as $215.16 and last traded at $214.73, with a volume of 233829 shares changing hands. The stock had previously closed at $212.24.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RSG. Royal Bank of Canada raised their target price on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Stifel Nicolaus raised their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Finally, Robert W. Baird boosted their target price on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Stock Performance

The business’s fifty day simple moving average is $203.66 and its 200-day simple moving average is $197.79. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $65.59 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Republic Services’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed 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 is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new stake in Republic Services in the first quarter worth about $24,121,000. Motco bought a new stake in shares of Republic Services during the first quarter worth $324,000. M&G Plc purchased a new stake in shares of Republic Services during the first quarter valued at $130,892,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Republic Services in the first quarter worth about $225,000. Finally, Intech Investment Management LLC increased its stake in Republic Services by 25.2% in the 1st quarter. Intech Investment Management LLC now owns 74,088 shares of the business services provider’s stock worth $14,183,000 after buying an additional 14,921 shares during the period. 57.73% of the stock is owned by hedge funds and other 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.