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

Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 yield of 1.10%. The ex-dividend date of this dividend is Tuesday, July 2nd.

Republic Services has raised its dividend 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 Stock Down 0.2 %

Shares of Republic Services stock opened at $194.34 on Friday. The company has a fifty day moving average price of $188.74 and a 200 day moving average price of $181.23. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a twelve month low of $140.23 and a twelve month high of $196.76. The stock has a market cap of $61.20 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 3.26 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The company 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 firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. Equities research analysts forecast that Republic Services will post 6.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth purchased 540 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now owns 540 shares in the company, valued at approximately $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Katharine Weymouth acquired 540 shares of the stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the transaction, the director now owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services 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 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. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Jefferies Financial Group increased their price objective on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Scotiabank increased their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Oppenheimer increased their price objective on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.