Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Thursday, February 16th. Shareholders of record on Monday, April 3rd will be paid a dividend of 0.32 per share by the business services provider on Monday, April 17th. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 30th.
Republic Services has raised its dividend by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 7 years. Republic Services has a dividend payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $2.60 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 49.2%.
Shares of Republic Services (NYSE:RSG) traded up 0.70% during trading on Friday, reaching $63.45. 832,735 shares of the company’s stock were exchanged. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 35.65 and a beta of 0.59. Republic Services has a 12 month low of $45.56 and a 12 month high of $63.84. The stock has a 50-day moving average price of $62.65 and a 200 day moving average price of $57.26.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 16th. The business services provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. Republic Services had a return on equity of 9.62% and a net margin of 6.40%. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts forecast that Republic Services will post $2.36 EPS for the current year.
In other news, insider Donald W. Slager sold 112,500 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $61.55, for a total transaction of $6,924,375.00. Following the completion of the transaction, the insider now directly owns 359,517 shares of the company’s stock, valued at approximately $22,128,271.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Catharine D. Ellingsen sold 1,625 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $62.21, for a total value of $101,091.25. Following the transaction, the executive vice president now directly owns 3,589 shares of the company’s stock, valued at $223,271.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,996 shares of company stock valued at $9,575,351. Insiders own 0.50% of the company’s stock.
A number of equities research analysts have commented on RSG shares. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday, February 15th. Barclays PLC downgraded Republic Services from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $55.00 to $57.00 in a report on Wednesday, March 1st. Wedbush boosted their price objective on Republic Services from $61.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, February 21st. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Republic Services in a report on Friday, February 17th. Finally, Stifel Nicolaus boosted their price objective on Republic Services from $60.00 to $64.00 and gave the company a “buy” rating in a report on Monday, February 13th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $64.56.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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