Citigroup Issues Pessimistic Forecast for Waste Connections (NYSE:WCN) Stock Price

Waste Connections (NYSE:WCN) had its target price cut by investment analysts at Citigroup from $199.00 to $196.00 in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price would indicate a potential upside of 10.88% from the company’s current price.

A number of other brokerages also recently issued reports on WCN. UBS Group set a $190.00 price objective on shares of Waste Connections and gave the company a “neutral” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Oppenheimer reduced their price objective on shares of Waste Connections from $210.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Finally, CIBC reissued an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $210.63.

Waste Connections Stock Down 0.0%

Shares of Waste Connections stock opened at $176.76 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. The company’s fifty day simple moving average is $176.95 and its two-hundred day simple moving average is $185.44. The company has a market cap of $45.36 billion, a P/E ratio of 73.65, a PEG ratio of 3.28 and a beta of 0.62. Waste Connections has a 12-month low of $169.36 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.35 EPS. Waste Connections has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Connections will post 5.28 EPS for the current year.

Institutional Trading of Waste Connections

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MGO One Seven LLC grew its position in shares of Waste Connections by 23.0% in the 3rd quarter. MGO One Seven LLC now owns 8,965 shares of the business services provider’s stock worth $1,576,000 after buying an additional 1,674 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Waste Connections by 0.4% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 28,696 shares of the business services provider’s stock worth $5,045,000 after purchasing an additional 127 shares in the last quarter. Parnassus Investments LLC boosted its stake in Waste Connections by 32.2% in the 3rd quarter. Parnassus Investments LLC now owns 1,494 shares of the business services provider’s stock worth $263,000 after purchasing an additional 364 shares in the last quarter. Beaumont Financial Advisors LLC boosted its stake in Waste Connections by 1.1% in the 3rd quarter. Beaumont Financial Advisors LLC now owns 29,791 shares of the business services provider’s stock worth $5,237,000 after purchasing an additional 317 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in Waste Connections by 19.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 7,512 shares of the business services provider’s stock worth $1,321,000 after purchasing an additional 1,240 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.