Waste Connections Inc (NYSE:WCN) has been given a consensus rating of “Buy” by the fifteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $96.44.
A number of analysts have recently commented on WCN shares. Zacks Investment Research lowered Waste Connections from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. BMO Capital Markets boosted their price target on Waste Connections from $92.00 to $101.00 and gave the company an “outperform” rating in a report on Friday, April 26th. UBS Group boosted their price target on Waste Connections from $96.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Stifel Nicolaus lowered Waste Connections from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a report on Thursday, April 11th. Finally, Scotiabank started coverage on Waste Connections in a report on Tuesday, April 23rd. They issued an “outperform” rating and a $89.25 price target on the stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Lunia Capital LP acquired a new position in shares of Waste Connections in the fourth quarter valued at approximately $7,205,000. Norges Bank acquired a new position in shares of Waste Connections in the fourth quarter valued at approximately $378,868,000. FMR LLC grew its position in shares of Waste Connections by 50.3% in the first quarter. FMR LLC now owns 3,455,088 shares of the business services provider’s stock valued at $306,071,000 after purchasing an additional 1,155,609 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Waste Connections by 102.5% in the fourth quarter. CIBC Asset Management Inc now owns 2,045,628 shares of the business services provider’s stock valued at $151,877,000 after purchasing an additional 1,035,247 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Waste Connections by 1,018.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 703,287 shares of the business services provider’s stock valued at $81,784,000 after purchasing an additional 640,380 shares during the last quarter. 83.20% of the stock is currently owned by hedge funds and other institutional investors.
WCN stock traded down $0.91 during midday trading on Friday, hitting $93.82. 21,456 shares of the company’s stock were exchanged, compared to its average volume of 959,979. The stock’s fifty day moving average is $93.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $25.24 billion, a P/E ratio of 37.35, a PEG ratio of 2.79 and a beta of 0.23. Waste Connections has a one year low of $70.28 and a one year high of $96.14.
Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, analysts predict that Waste Connections will post 2.77 earnings per share for the current fiscal year.
About Waste Connections
Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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