Republic Services (NYSE:RSG) Sets New 12-Month High Following Better-Than-Expected Earnings

Republic Services, Inc. (NYSE:RSG) hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $194.10 and last traded at $194.10, with a volume of 168313 shares trading hands. The stock had previously closed at $193.41.

The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.75%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of recent research reports. Scotiabank raised their price target on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Royal Bank of Canada began coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group boosted their price target on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer upped their target price on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Insider Buying and Selling

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Hedge funds have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC lifted its stake in shares of Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 71 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in Republic Services during the 1st quarter worth approximately $29,000. Bogart Wealth LLC bought a new stake in shares of Republic Services in the 4th quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Republic Services in the 4th quarter valued at approximately $34,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Republic Services in the 3rd quarter valued at approximately $36,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Down 3.0 %

The firm has a market capitalization of $58.59 billion, a P/E ratio of 32.63, a P/E/G ratio of 3.35 and a beta of 0.67. The stock has a fifty day moving average price of $187.94 and a two-hundred day moving average price of $171.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

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.