Waste Connections Receives New Coverage from Analysts at Imperial Capital (WCN)
Research analysts at Imperial Capital initiated coverage on shares of Waste Connections (NYSE:WCN) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $53.00 price target on the stock. Imperial Capital’s target price indicates a potential upside of 15.14% from the company’s current price.
The analysts wrote, “We are initiating coverage with an Outperform rating and a one-year price target of $53, 15% above the recent share price. We think WCN has one of the most attractive financial profiles in the waste industry, due to its defensive business model, attractive positioning in E&P waste, and capacity to add value via accretive capital allocation. Given best-in-class profitability and attractive growth prospects (including potential acceleration in both solid and E&P waste), we think its premium multiple is warranted.”
A number of other analysts have also recently weighed in on WCN. Analysts at Credit Suisse raised their price target on shares of Waste Connections (NYSE:WCN) from $44.00 to $49.00 in a research note to investors on Thursday, July 25th. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Waste Connections (NYSE:WCN) in a research note to investors on Monday, July 22nd. They now have a $47.00 price target on the stock. Finally, analysts at Wunderlich raised their price target on shares of Waste Connections (NYSE:WCN) from $42.00 to $52.00 in a research note to investors on Monday, July 22nd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Waste Connections currently has an average rating of “Buy” and an average target price of $48.00.
Waste Connections (NYSE:WCN) traded up 0.08% on Wednesday, hitting $46.0675. 114,926 shares of the company’s stock traded hands. Waste Connections has a one year low of $29.25 and a one year high of $46.31. The stock has a 50-day moving average of $43.81 and a 200-day moving average of $40.67. The company has a market cap of $5.689 billion and a price-to-earnings ratio of 33.19.
Waste Connections (NYSE:WCN) last announced its earnings results on Tuesday, July 23rd. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.03. The company had revenue of $489.38 million for the quarter, compared to the consensus estimate of $481.88 million. During the same quarter last year, the company posted $0.36 earnings per share. Waste Connections’s revenue was up 19.1% compared to the same quarter last year. On average, analysts predict that Waste Connections will post $1.78 earnings per share for the current fiscal year.
Waste Connections, Inc (NYSE:WCN) is an integrated municipal solid waste (MSW), services company that provides solid waste collection, transfer, disposal and recycling services in the United States.
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