Zacks: Analysts Expect Waste Connections Inc (WCN) Will Post Earnings of $0.68 Per Share

Equities research analysts expect that Waste Connections Inc (NYSE:WCN) will report earnings per share of $0.68 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Waste Connections’ earnings. The highest EPS estimate is $0.69 and the lowest is $0.65. Waste Connections reported earnings of $0.60 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.3%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Waste Connections will report full year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.47 to $2.55. For the next financial year, analysts forecast that the company will report earnings of $2.82 per share, with EPS estimates ranging from $2.72 to $2.93. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Waste Connections.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $0.55 EPS. Waste Connections’s revenue for the quarter was up 5.5% compared to the same quarter last year.

A number of research firms have issued reports on WCN. TD Securities raised their price target on shares of Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Friday, May 25th. BMO Capital Markets set a $82.00 target price on shares of Waste Connections and gave the company a “buy” rating in a report on Friday, May 4th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Finally, Citigroup lifted their target price on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Waste Connections has a consensus rating of “Buy” and a consensus target price of $83.00.

Waste Connections traded down $0.50, reaching $78.87, during trading on Friday, according to Marketbeat. 517,583 shares of the company’s stock were exchanged, compared to its average volume of 682,300. Waste Connections has a 1 year low of $63.47 and a 1 year high of $79.63. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $20.91 billion, a PE ratio of 34.06, a P/E/G ratio of 2.71 and a beta of 0.07.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 21st. Stockholders of record on Tuesday, August 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Monday, August 6th. Waste Connections’s dividend payout ratio (DPR) is 25.93%.

In related news, President Steven F. Bouck sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $76.31, for a total value of $763,100.00. Following the completion of the sale, the president now owns 303,439 shares of the company’s stock, valued at approximately $23,155,430.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Little sold 3,000 shares of the business’s stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $76.28, for a total transaction of $228,840.00. Following the completion of the sale, the insider now directly owns 22,709 shares of the company’s stock, valued at approximately $1,732,242.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,500 shares of company stock valued at $2,994,745. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Waste Connections by 4.6% in the 1st quarter. Royal Bank of Canada now owns 10,560,499 shares of the business services provider’s stock worth $757,609,000 after acquiring an additional 467,951 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Waste Connections by 1.5% in the 1st quarter. JPMorgan Chase & Co. now owns 9,873,222 shares of the business services provider’s stock worth $708,306,000 after acquiring an additional 147,543 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Waste Connections by 10.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,260,678 shares of the business services provider’s stock worth $305,661,000 after acquiring an additional 404,508 shares in the last quarter. CIBC World Markets Inc. increased its holdings in Waste Connections by 3.4% in the 1st quarter. CIBC World Markets Inc. now owns 3,073,757 shares of the business services provider’s stock worth $220,511,000 after acquiring an additional 100,669 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Waste Connections by 4.3% in the 2nd quarter. BlackRock Inc. now owns 2,826,679 shares of the business services provider’s stock worth $212,793,000 after acquiring an additional 116,433 shares in the last quarter. 83.76% of the stock is owned by institutional investors.

About Waste Connections

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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