Republic Services, Inc. to Issue Quarterly Dividend of $0.58 (NYSE:RSG)

Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Investors of record on Thursday, January 2nd will be paid a dividend of 0.58 per share by the business services provider on Wednesday, January 15th. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, January 2nd.

Republic Services has raised 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 22 consecutive years. Republic Services has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Republic Services to earn $6.83 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 34.0%.

Republic Services Trading Down 0.8 %

Shares of Republic Services stock opened at $201.19 on Tuesday. The firm has a market cap of $63.00 billion, a PE ratio of 32.19, a P/E/G ratio of 3.30 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services has a fifty-two week low of $162.27 and a fifty-two week high of $220.58. The business’s fifty day moving average is $208.49 and its two-hundred day moving average is $203.34.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Republic Services will post 6.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on RSG. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Scotiabank assumed coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Finally, Oppenheimer raised their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.06.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

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.