Republic Services, Inc. (NYSE:RSG) Raises Dividend to $0.63 Per Share

Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Shareholders of record on Thursday, October 2nd will be paid a dividend of 0.625 per share by the business services provider on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a 7.8% increase from Republic Services’s previous quarterly dividend of $0.58.

Republic Services has a dividend payout ratio of 30.4% meaning 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 Up 0.3%

RSG opened at $228.91 on Tuesday. The company has a market capitalization of $71.47 billion, a P/E ratio of 33.86, a PEG ratio of 3.56 and a beta of 0.59. Republic Services has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average is $232.89 and its two-hundred day moving average is $240.53.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the business posted $1.61 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts forecast that Republic Services will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RSG shares. UBS Group set a $260.00 target price on Republic Services and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Oppenheimer boosted their price target on Republic Services from $262.00 to $268.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Scotiabank lifted their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Friday, July 18th. BMO Capital Markets increased their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 target price on the stock in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $260.58.

About Republic Services

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.