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 dividend on an annualized basis and a yield of 2.20%.
Republic Services has raised 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 dividend payout ratio of 57.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Republic Services to earn $2.78 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 49.6%.
Shares of Republic Services (NYSE:RSG) traded down $1.88 during trading on Thursday, reaching $62.72. The company had a trading volume of 2,250,440 shares, compared to its average volume of 1,392,994. Republic Services has a 1-year low of $57.65 and a 1-year high of $69.40. The firm has a market cap of $21,577.53, a price-to-earnings ratio of 27.37, a PEG ratio of 2.23 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.
Republic Services announced that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of brokerages recently issued reports on RSG. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Bank of America lifted their target price on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price target on shares of Republic Services in a research report on Friday, October 13th. Finally, Credit Suisse Group lowered their price target on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.00.
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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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