Republic Services, Inc. Declares Quarterly Dividend of $0.54 (NYSE:RSG)

Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Tuesday, July 2nd will be given a dividend of 0.535 per share by the business services provider on Monday, July 15th. This represents a $2.14 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, July 2nd.

Republic Services has raised its dividend payment by an average of 7.5% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Republic Services has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $6.68 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 32.0%.

Republic Services Trading Down 0.2 %

RSG stock opened at $194.34 on Friday. The company’s 50-day simple moving average is $188.74 and its 200-day simple moving average is $181.23. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a 52-week low of $140.23 and a 52-week high of $196.76. The firm has a market cap of $61.20 billion, a P/E ratio of 34.09, a PEG ratio of 3.26 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company posted $1.24 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Republic Services will post 6.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RSG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target for the company. Oppenheimer upped their price target on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a research report on Friday, March 15th. Scotiabank upped 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, May 1st. Finally, The Goldman Sachs Group raised their price target on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Insider Activity

In other Republic Services news, Director Katharine Weymouth bought 540 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares in the company, valued at $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Katharine Weymouth purchased 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at $1,270,702.62. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.