Waste Connections’ (WCN) “Market Perform” Rating Reiterated at CIBC

CIBC reaffirmed their market perform rating on shares of Waste Connections (NYSE:WCN) in a research note issued to investors on Thursday morning, FirstToMarketsRatingsTable reports.

Several other brokerages have also recently commented on WCN. AltaCorp Capital cut shares of Waste Connections from an outperform rating to a sector perform rating in a research note on Thursday, April 25th. BMO Capital Markets set a $76.00 price objective on shares of Gilead Sciences and gave the company a buy rating in a research note on Monday, July 15th. Scotiabank began coverage on shares of Waste Connections in a research note on Tuesday, April 23rd. They set an outperform rating and a $89.25 price objective for the company. Raymond James set a $33.00 price objective on shares of LKQ and gave the company a buy rating in a research note on Friday, April 26th. Finally, Zacks Investment Research raised shares of Zymeworks from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Saturday, April 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $95.79.

WCN opened at $94.58 on Thursday. The stock has a market capitalization of $24.94 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.21. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a 50-day simple moving average of $95.18. Waste Connections has a twelve month low of $70.28 and a twelve month high of $97.93.

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 consensus estimate of $0.60 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Waste Connections had a net margin of 10.89% and a return on equity of 10.58%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. On average, research analysts expect that Waste Connections will post 2.77 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Cable Hill Partners LLC lifted its position in Waste Connections by 325.6% during the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 433 shares during the last quarter. Parallel Advisors LLC lifted its position in Waste Connections by 44.7% during the first quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 192 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Waste Connections by 77.5% during the first quarter. Flagship Harbor Advisors LLC now owns 742 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 324 shares during the last quarter. Signaturefd LLC lifted its position in Waste Connections by 24.5% during the first quarter. Signaturefd LLC now owns 854 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 168 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Waste Connections by 67.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,080 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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