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

Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Tuesday, July 2nd will be paid a dividend of 0.535 per share by the business services provider on Monday, July 15th. This represents a $2.14 dividend on an annualized basis 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 raised its dividend every year for the last 21 years. Republic Services has a dividend payout ratio of 31.7% indicating that 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 Price Performance

Shares of NYSE:RSG opened at $194.34 on Monday. The firm has a market cap of $61.20 billion, a price-to-earnings ratio of 34.09, a P/E/G ratio of 3.26 and a beta of 0.69. Republic Services has a 1 year low of $140.23 and a 1 year high of $196.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $188.74 and a 200 day simple moving average of $181.33.

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, beating analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. As a group, sell-side analysts predict that Republic Services will post 6.05 earnings per share for the current fiscal year.

Insider Activity at Republic Services

In other news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction 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 transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Katharine Weymouth acquired 540 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated 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 sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RSG. UBS Group upped their target price on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 target price on the stock. Oppenheimer raised their price target on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group increased their price objective on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

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.