Waste Connections (NYSE:WCN) had its price target boosted by Raymond James from $105.00 to $106.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a strong-buy rating on the business services provider’s stock.
A number of other research firms have also recently commented on WCN. CIBC reissued a market perform rating on shares of Waste Connections in a report on Thursday, July 18th. BMO Capital Markets raised their price target on Waste Connections to $106.00 and gave the company an outperform rating in a report on Monday, July 15th. TD Securities raised their price target on Waste Connections from $88.00 to $94.00 and gave the company a hold rating in a report on Friday, April 26th. Scotiabank began coverage on Waste Connections in a report on Tuesday, April 23rd. They set an outperform rating and a $89.25 price target on the stock. Finally, AltaCorp Capital cut Waste Connections from an outperform rating to a sector perform rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $96.69.
NYSE WCN traded down $0.15 on Wednesday, hitting $90.57. 20,348 shares of the company traded hands, compared to its average volume of 637,984. The firm has a market cap of $24.83 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.21. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The business has a 50 day simple moving average of $95.34. Waste Connections has a 52-week low of $70.28 and a 52-week high of $97.93.
Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.69. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Waste Connections had a return on equity of 10.65% and a net margin of 10.82%. Waste Connections’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, analysts anticipate that Waste Connections will post 2.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.71%. Waste Connections’s dividend payout ratio (DPR) is 25.40%.
Several hedge funds have recently modified their holdings of WCN. Steward Partners Investment Advisory LLC bought a new stake in Waste Connections during the second quarter worth approximately $39,000. Cable Hill Partners LLC boosted its position in shares of 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 buying an additional 433 shares during the period. Parallel Advisors LLC boosted its position in shares of 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 buying an additional 192 shares during the period. Flagship Harbor Advisors LLC boosted its position in shares of 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 buying an additional 324 shares during the period. Finally, Signaturefd LLC boosted its position in shares of 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 buying an additional 168 shares during the period. 83.25% of the stock is currently owned by hedge funds and other institutional investors.
Waste Connections Company Profile
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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