Waste Connections Inc (NYSE:WCN) has been given an average rating of “Buy” by the sixteen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $98.48.
Several analysts recently issued reports on WCN shares. JPMorgan Chase & Co. started coverage on shares of Waste Connections in a research report on Wednesday, August 7th. They issued an “overweight” rating and a $98.00 price target for the company. Bank of America reissued a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Waste Connections in a research report on Thursday, April 25th. CIBC reissued a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. Stifel Nicolaus raised shares of Waste Connections from a “hold” rating to a “buy” rating and lifted their price target for the company from $88.00 to $105.00 in a research report on Thursday, April 25th. Finally, Scotiabank started coverage on shares of Waste Connections in a research report on Tuesday, April 23rd. They issued an “outperform” rating and a $89.25 price target for the company.
Shares of WCN stock traded up $1.23 during trading hours on Friday, hitting $91.61. 35,832 shares of the company were exchanged, compared to its average volume of 860,073. The stock has a market capitalization of $23.83 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.97 and a beta of 0.20. Waste Connections has a fifty-two week low of $70.28 and a fifty-two week high of $97.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50 day simple moving average is $94.30.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $0.65 EPS. Waste Connections’s revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Waste Connections will post 2.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, August 9th. Waste Connections’s dividend payout ratio is 25.40%.
In other Waste Connections news, VP Patrick James Shea sold 17,000 shares of Waste Connections stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $92.35, for a total transaction of $1,569,950.00. Following the transaction, the vice president now directly owns 26,269 shares of the company’s stock, valued at approximately $2,425,942.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Little sold 10,000 shares of Waste Connections stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $89.74, for a total transaction of $897,400.00. Following the transaction, the vice president now directly owns 20,280 shares in the company, valued at $1,819,927.20. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $4,766,745 over the last ninety days. Insiders own 0.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of WCN. Steward Partners Investment Advisory LLC bought a new stake in shares of Waste Connections during the 2nd quarter worth $39,000. Cable Hill Partners LLC raised its stake in shares of Waste Connections by 325.6% during the 1st quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock worth $50,000 after purchasing an additional 433 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Waste Connections by 47.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 551 shares of the business services provider’s stock worth $51,000 after purchasing an additional 178 shares during the period. Parallel Advisors LLC raised its stake in shares of Waste Connections by 44.7% during the 1st quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock worth $55,000 after purchasing an additional 192 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Waste Connections by 77.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 742 shares of the business services provider’s stock worth $65,000 after purchasing an additional 324 shares during the period. 83.03% 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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