Republic Services, Inc. (RSG) to Issue Quarterly Dividend of $0.54 on July 15th

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 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, July 2nd.

Republic Services has increased its dividend payment by an average of 7.5% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Republic Services has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. 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 %

Shares of RSG opened at $194.34 on Friday. The company has a market capitalization of $61.20 billion, a P/E ratio of 34.09, a P/E/G ratio of 3.26 and a beta of 0.68. Republic Services has a one year low of $140.23 and a one year high of $196.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a 50-day moving average price of $188.74 and a 200 day moving average price of $181.23.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 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 the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. Republic Services’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. Sell-side analysts forecast that Republic Services will post 6.05 EPS for the current fiscal year.

Insider Transactions at Republic Services

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

Analyst Upgrades and Downgrades

RSG has been the topic of several research reports. Scotiabank upped their price objective on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target on the stock. UBS Group increased their price target on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their price target 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, Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a research report on Friday, March 15th. Eight equities 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.14.

About Republic Services

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.