Republic Services (NYSE:RSG) Reaches New 12-Month High at $90.60

Republic Services, Inc. (NYSE:RSG) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $90.60 and last traded at $90.51, with a volume of 51177 shares changing hands. The stock had previously closed at $89.92.

A number of analysts have recently issued reports on the company. Bank of America reiterated a “neutral” rating and set a $85.00 price target (up previously from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Monday, April 29th. Royal Bank of Canada set a $91.00 price target on Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Raymond James set a $93.00 price target on Republic Services and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Republic Services presently has an average rating of “Hold” and a consensus target price of $84.67.

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $28.84 billion, a PE ratio of 28.90, a PEG ratio of 3.07 and a beta of 0.50. The company has a 50 day moving average price of $88.41 and a 200-day moving average price of $83.14.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, equities analysts anticipate that Republic Services, Inc. will post 3.24 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.81%. This is a boost from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, September 30th. Republic Services’s dividend payout ratio is presently 48.54%.

In other Republic Services news, EVP Catharine D. Ellingsen sold 3,100 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $90.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at $1,287,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RSG. First Bank & Trust purchased a new stake in Republic Services in the second quarter worth about $35,000. CWM LLC increased its position in Republic Services by 109.9% in the first quarter. CWM LLC now owns 468 shares of the business services provider’s stock worth $38,000 after buying an additional 245 shares in the last quarter. Gemmer Asset Management LLC increased its position in Republic Services by 140.2% in the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after buying an additional 265 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of Republic Services during the first quarter worth about $40,000. Finally, Glassman Wealth Services grew its position in shares of Republic Services by 44.9% during the first quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock worth $41,000 after purchasing an additional 157 shares in the last quarter. 59.61% of the stock is currently owned by institutional investors and hedge funds.

About Republic Services (NYSE:RSG)

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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

Further Reading: Why do companies issue convertible shares?

Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.