Stock Traders Purchase High Volume of Put Options on Republic Services (RSG)
Republic Services, Inc. (NYSE:RSG) was the recipient of unusually large options trading on Monday. Stock investors bought 1,252 put options on the stock. This is an increase of 1,987% compared to the typical volume of 60 put options.
A number of research analysts have issued reports on RSG shares. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Monday, January 22nd. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $73.00 in a report on Thursday, January 4th. Bank of America lifted their price objective on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. Credit Suisse Group cut their price objective on Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Finally, BMO Capital Markets cut their price objective on Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.57.
In related news, CEO Donald W. Slager sold 98,132 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total value of $6,299,093.08. Following the completion of the transaction, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at $20,703,906.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $67.57, for a total value of $135,140.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,696 shares of the company’s stock, valued at $452,448.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,642 shares of company stock valued at $6,741,314. 0.40% of the stock is owned by company insiders.
Shares of Republic Services (RSG) traded up $1.24 during trading hours on Wednesday, hitting $64.52. The stock had a trading volume of 2,129,097 shares, compared to its average volume of 1,540,655. Republic Services has a 52 week low of $58.06 and a 52 week high of $69.40. The firm has a market capitalization of $20,740.59, a price-to-earnings ratio of 16.70, a PEG ratio of 1.99 and a beta of 0.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.51 and a current ratio of 0.55.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. analysts predict that Republic Services will post 3.08 EPS for the current fiscal year.
Republic Services announced that its Board of Directors has authorized a share buyback plan on Thursday, November 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a $0.345 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.14%. Republic Services’s dividend payout ratio (DPR) is presently 36.41%.
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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.
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