Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Thursday, April 27th, RTT News reports. Investors of record on Monday, July 3rd will be given a dividend of 0.32 per share by the business services provider on Friday, July 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, June 29th.
Republic Services has increased its dividend by an average of 8.1% per year 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 54.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Republic Services to earn $2.61 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 49.0%.
Shares of Republic Services (NYSE:RSG) opened at 64.04 on Friday. The company has a market cap of $21.65 billion, a PE ratio of 34.06 and a beta of 0.57. The company has a 50 day moving average of $63.37 and a 200 day moving average of $60.78. Republic Services has a 1-year low of $48.67 and a 1-year high of $65.34.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 27th. The business services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.36 billion. Republic Services had a net margin of 6.75% and a return on equity of 10.18%. Republic Services’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. Equities analysts expect that Republic Services will post $2.38 earnings per share for the current fiscal year.
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Several analysts recently commented on the stock. Credit Suisse Group set a $63.00 target price on shares of Republic Services and gave the stock a “hold” rating in a report on Sunday, April 30th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Thursday, May 25th. Barclays PLC reaffirmed a “hold” rating and set a $59.00 target price on shares of Republic Services in a report on Friday, April 28th. Finally, Wedbush lifted their target price on shares of Republic Services from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, March 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $66.56.
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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