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

Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Stockholders 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 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% annually over the last three years and has raised its dividend every year for the last 22 years. Republic Services has a payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

NYSE RSG opened at $201.19 on Tuesday. The company has a market cap of $63.00 billion, a PE ratio of 32.19, a PEG ratio of 3.30 and a beta of 0.71. The stock has a 50 day moving average of $208.49 and a 200-day moving average of $203.34. Republic Services has a 12 month low of $162.27 and a 12 month high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the business earned $1.54 earnings per share. Republic Services’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Republic Services will post 6.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 1,859 shares of the firm’s 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 directly owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’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 sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RSG. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Scotiabank started coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. CIBC lifted their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer boosted their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $220.06.

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.