Republic Services, Inc. (RSG) to Issue Quarterly Dividend of $0.58 on January 15th

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 paid a dividend of 0.58 per share by the business services provider on Wednesday, January 15th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, January 2nd.

Republic Services has raised its dividend 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% 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. Republic Services has a one year low of $162.27 and a one year high of $220.58. 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 firm’s fifty day moving average is $208.49 and its two-hundred day moving average is $203.34. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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 firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business earned $1.54 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts expect that Republic Services will post 6.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Scotiabank initiated coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada raised their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. CIBC increased their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.06.

Insider Activity

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.