Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Tuesday, October 27th, Zacks reports. Stockholders of record on Monday, January 4th will be given a dividend of 0.425 per share by the business services provider on Friday, January 15th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, December 31st.
Republic Services has raised its dividend by 25.8% over the last three years and has raised its dividend every year for the last 1 years. Republic Services has a dividend payout ratio of 50.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Republic Services to earn $3.54 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 48.0%.
Shares of RSG stock traded up $0.01 during trading hours on Tuesday, reaching $96.43. The company had a trading volume of 2,974 shares, compared to its average volume of 1,316,804. The company has a market capitalization of $30.73 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 3.68 and a beta of 0.61. Republic Services has a twelve month low of $65.37 and a twelve month high of $103.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s fifty day simple moving average is $97.27 and its 200 day simple moving average is $91.08.
A number of research analysts recently commented on RSG shares. Jefferies Financial Group raised Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $102.00 to $110.00 in a report on Monday, October 19th. JPMorgan Chase & Co. downgraded Republic Services from an “overweight” rating to a “neutral” rating and set a $99.00 target price on the stock. in a report on Wednesday, September 23rd. Raymond James increased their target price on Republic Services from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Morgan Stanley increased their target price on Republic Services from $94.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Finally, Argus increased their target price on Republic Services from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 18th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Republic Services currently has a consensus rating of “Buy” and a consensus target price of $96.23.
In related news, CEO Donald W. Slager sold 43,199 shares of the firm’s stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $94.85, for a total value of $4,097,425.15. Following the sale, the chief executive officer now owns 299,080 shares of the company’s stock, valued at approximately $28,367,738. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Republic Services declared that its Board of Directors has approved a share repurchase plan on Thursday, November 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
See Also: Cost of Equity
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