Republic Services, Inc. (RSG) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Republic Services, Inc. (NYSE:RSG) from a sell rating to a hold rating in a research note published on Friday.

According to Zacks, “Republic Services is expected to face commodity price headwinds, which will likely have a negative year-over-year impact on earnings. Margin pressure also remains a bottleneck as Republic Services has more exposure to Collection services that generate the lowest margin, while protracted weakness in special waste and tight municipal budgets remain additional headwinds. In addition, increased competitive pressure remains a cause for concern. However, Republic Services outperformed the industry year to date. It remains focused on enhancing operations by streamlining the cost structure, improving revenue quality and seeking growth through profitable investment opportunities. With diligent execution of operational plans, Republic Services continues to generate significant free cash flow, which is utilized for increased dividend payment, repurchasing shares and strategic acquisitions.”

Several other analysts have also recently issued reports on the stock. Bank of America Corporation lowered their price objective on shares of Republic Services from $72.00 to $70.00 and set a buy rating for the company in a research note on Thursday, October 5th. KeyCorp reissued a hold rating on shares of Republic Services in a research note on Thursday, August 24th. Royal Bank Of Canada reissued an outperform rating on shares of Republic Services in a research note on Thursday, September 7th. BMO Capital Markets started coverage on shares of Republic Services in a research note on Thursday, June 29th. They set an outperform rating and a $71.00 price objective for the company. Finally, Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a hold rating in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $71.33.

Shares of Republic Services (NYSE RSG) traded up 0.85% on Friday, reaching $64.19. The company had a trading volume of 1,293,230 shares. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 32.95 and a beta of 0.60. The firm has a 50-day moving average price of $65.13 and a 200 day moving average price of $64.13. Republic Services has a 1-year low of $50.15 and a 1-year high of $67.18.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts predict that Republic Services will post $2.38 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.345 per share. The ex-dividend date was Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.15%. Republic Services’s payout ratio is currently 70.77%.

In related news, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.02, for a total transaction of $940,785.00. Following the completion of the sale, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at approximately $528,622.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the sale, the insider now directly owns 246,617 shares of the company’s stock, valued at $16,289,052.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,187 shares of company stock valued at $2,854,922. 0.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in RSG. Evercore Wealth Management LLC boosted its position in Republic Services by 48.6% during the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after purchasing an additional 521 shares during the period. Sun Life Financial INC boosted its position in Republic Services by 20,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Republic Services during the 2nd quarter worth $141,000. Whittier Trust Co. of Nevada Inc. boosted its position in Republic Services by 59.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in Republic Services during the 2nd quarter worth $191,000. 60.50% of the stock is owned by hedge funds and other institutional investors.

About Republi

According to Zacks, “Republic Services is expected to face commodity price headwinds, which will likely have a negative year-over-year impact on earnings. Margin pressure also remains a bottleneck as Republic Services has more exposure to Collection services that generate the lowest margin, while protracted weakness in special waste and tight municipal budgets remain additional headwinds. In addition, increased competitive pressure remains a cause for concern. However, Republic Services outperformed the industry year to date. It remains focused on enhancing operations by streamlining the cost structure, improving revenue quality and seeking growth through profitable investment opportunities. With diligent execution of operational plans, Republic Services continues to generate significant free cash flow, which is utilized for increased dividend payment, repurchasing shares and strategic acquisitions.”

Several other analysts have also recently issued reports on the stock. Bank of America Corporation lowered their price objective on shares of Republic Services from $72.00 to $70.00 and set a buy rating for the company in a research note on Thursday, October 5th. KeyCorp reissued a hold rating on shares of Republic Services in a research note on Thursday, August 24th. Royal Bank Of Canada reissued an outperform rating on shares of Republic Services in a research note on Thursday, September 7th. BMO Capital Markets started coverage on shares of Republic Services in a research note on Thursday, June 29th. They set an outperform rating and a $71.00 price objective for the company. Finally, Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a hold rating in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $71.33.

Shares of Republic Services (NYSE RSG) traded up 0.85% on Friday, reaching $64.19. The company had a trading volume of 1,293,230 shares. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 32.95 and a beta of 0.60. The firm has a 50-day moving average price of $65.13 and a 200 day moving average price of $64.13. Republic Services has a 1-year low of $50.15 and a 1-year high of $67.18.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts predict that Republic Services will post $2.38 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2017/10/21/republic-services-inc-rsg-upgraded-by-zacks-investment-research-to-hold.html.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.345 per share. The ex-dividend date was Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.15%. Republic Services’s payout ratio is currently 70.77%.

In related news, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.02, for a total transaction of $940,785.00. Following the completion of the sale, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at approximately $528,622.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the sale, the insider now directly owns 246,617 shares of the company’s stock, valued at $16,289,052.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,187 shares of company stock valued at $2,854,922. 0.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in RSG. Evercore Wealth Management LLC boosted its position in Republic Services by 48.6% during the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after purchasing an additional 521 shares during the period. Sun Life Financial INC boosted its position in Republic Services by 20,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Republic Services during the 2nd quarter worth $141,000. Whittier Trust Co. of Nevada Inc. boosted its position in Republic Services by 59.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in Republic Services during the 2nd quarter worth $191,000. 60.50% of the stock is owned by hedge funds and other institutional investors.

About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

Analyst Recommendations for Republic Services (NYSE:RSG)

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