Republic Services, Inc. (NYSE:RSG) Declares Quarterly Dividend of $0.35
Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Thursday, July 27th, RTT News reports. Investors of record on Monday, October 2nd will be given a dividend of 0.345 per share by the business services provider on Monday, October 16th. This represents a $1.38 annualized dividend and a yield of 2.11%. This is an increase from Republic Services’s previous quarterly dividend of $0.32.
Republic Services has increased its dividend payment by an average of 8.1% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Republic Services has a dividend payout ratio of 54.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Republic Services to earn $2.62 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 48.9%.
Republic Services (NYSE:RSG) traded up 0.93% during midday trading on Thursday, reaching $65.40. 1,127,907 shares of the company traded hands. The firm has a 50-day moving average price of $64.30 and a 200-day moving average price of $62.07. Republic Services has a one year low of $49.18 and a one year high of $65.47. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 34.79 and a beta of 0.59.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.36 billion. Republic Services had a return on equity of 10.18% and a net margin of 6.75%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. Equities analysts predict that Republic Services will post $2.39 EPS for the current fiscal year.
A number of analysts have recently issued reports on RSG shares. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, May 2nd. BMO Capital Markets started coverage on Republic Services in a research report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 target price for the company. Wedbush boosted their target price on Republic Services from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, March 30th. Finally, Barclays PLC restated a “hold” rating and issued a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.90.
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Republic Services Company Profile
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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