Republic Services, Inc. (RSG) To Go Ex-Dividend on September 29th
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 paid 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 2.07%. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32.
Republic Services has raised its dividend payment by an average of 8.1% annually 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 58.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Republic Services to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 52.5%.
Shares of Republic Services (NYSE:RSG) opened at 66.59 on Thursday. The company has a 50-day moving average of $64.99 and a 200 day moving average of $63.81. Republic Services has a one year low of $49.18 and a one year high of $67.18. The firm has a market cap of $22.42 billion, a PE ratio of 34.18 and a beta of 0.60.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. On average, equities research analysts expect that Republic Services will post $2.39 EPS for the current fiscal year.
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A number of equities analysts have weighed in on RSG shares. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price target on shares of Republic Services in a report on Wednesday, July 19th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Friday, July 14th. Credit Suisse Group set a $69.00 price target on Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Republic Services presently has a consensus rating of “Hold” and a consensus target price of $71.88.
In other news, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.
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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