Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Thursday, February 8th, RTT News reports. Investors of record on Monday, April 2nd will be paid a dividend of 0.345 per share by the business services provider on Monday, April 16th. This represents a $1.38 annualized dividend and a yield of 2.22%.
Republic Services has increased its dividend by an average of 7.2% annually over the last three years and has raised its dividend every year for the last 8 years. Republic Services has a payout ratio of 57.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Republic Services to earn $2.81 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 49.1%.
Shares of Republic Services (NYSE:RSG) traded down $0.67 on Friday, reaching $62.05. 700,602 shares of the company traded hands, compared to its average volume of 1,356,278. Republic Services has a 1 year low of $57.74 and a 1 year high of $69.40. The stock has a market cap of $21,590.90, a P/E ratio of 26.92, a P/E/G ratio of 2.20 and a beta of 0.53. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54.
In other Republic Services news, CAO Brian A. Goebel sold 1,220 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total transaction of $83,033.20. Following the completion of the transaction, the chief accounting officer now owns 7,406 shares in the company, valued at approximately $504,052.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald W. Slager sold 32,421 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $64.00, for a total transaction of $2,074,944.00. The disclosure for this sale can be found here. Insiders have sold a total of 137,063 shares of company stock valued at $8,816,258 in the last quarter. 0.40% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 target price on the stock in a research note on Wednesday. Bank of America upped their target price on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. BMO Capital Markets cut their target price on shares of Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Finally, Credit Suisse Group cut their target price on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Republic Services has a consensus rating of “Hold” and a consensus target price of $69.00.
Republic Services announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 2nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: “Republic Services, Inc. Declares Quarterly Dividend of $0.35 (RSG)” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2018/02/09/republic-services-inc-declares-quarterly-dividend-of-0-35-rsg.html.
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.
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.