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

Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders of record on Thursday, January 2nd will be given 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 yield of 1.15%. The ex-dividend date is Thursday, January 2nd.

Republic Services has raised its dividend by an average of 7.5% annually over the last three years and has increased its dividend every year for the last 22 years. Republic Services has a dividend payout ratio of 34.0% indicating that 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 Stock Down 0.8 %

NYSE RSG opened at $201.19 on Tuesday. 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 has a 50 day moving average price of $208.49 and a two-hundred day moving average price of $203.34. The stock 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.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. As a group, sell-side analysts predict that Republic Services will post 6.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on RSG. CIBC upped their target price on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Truist Financial upped their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.06.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. 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.