Republic Services, Inc. (NYSE:RSG - Get Free Report) declared a quarterly dividend on Friday, July 25th, Wall Street Journal reports. Stockholders of record on Thursday, October 2nd will be given a dividend of 0.625 per share by the business services provider on Wednesday, October 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, October 2nd. This is a 7.8% increase from Republic Services's previous quarterly dividend of $0.58.
Republic Services has a payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Republic Services to earn $7.51 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 30.9%.
Republic Services Trading Down 0.0%
RSG traded down $0.10 during trading hours on Friday, reaching $245.01. 935,520 shares of the company's stock traded hands, compared to its average volume of 1,278,704. The firm has a 50-day moving average price of $247.41 and a 200 day moving average price of $237.09. The firm has a market capitalization of $76.57 billion, a PE ratio of 36.95, a PEG ratio of 3.69 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services has a 52-week low of $188.82 and a 52-week high of $258.75.
Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share. As a group, sell-side analysts predict that Republic Services will post 6.86 EPS for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Republic Services stock. Brighton Jones LLC increased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 75.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,822 shares of the business services provider's stock after purchasing an additional 8,547 shares during the quarter. Brighton Jones LLC's holdings in Republic Services were worth $3,988,000 as of its most recent filing with the SEC. 57.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on RSG. Scotiabank increased their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Robert W. Baird increased their target price on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Raymond James Financial boosted their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus price target of $258.16.
Get Our Latest Analysis on RSG
About Republic Services
(
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Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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