Progressive Waste Solutions Receives Average Rating of “Buy” from Analysts (NYSE:BIN)
Progressive Waste Solutions (NYSE:BIN) has received an average recommendation of “Buy” from the ten analysts that are currently covering the stock, American Banking News.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $28.22.
BIN has been the subject of a number of recent research reports. Analysts at Macquarie reiterated an “underperform” rating on shares of Progressive Waste Solutions in a research note on Monday. They now have a $22.00 price target on the stock, up previously from $21.00. Separately, analysts at Zacks upgraded shares of Progressive Waste Solutions from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $26.70 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Progressive Waste Solutions from $28.00 to $29.00 in a research note on Monday.
Progressive Waste Solutions (NYSE:BIN) traded up 1.65% on Tuesday, hitting $25.22. The stock had a trading volume of 34,075 shares. Progressive Waste Solutions has a 52 week low of $22.11 and a 52 week high of $27.18. The stock has a 50-day moving average of $25.4 and a 200-day moving average of $24.86. The company has a market cap of $2.882 billion and a P/E ratio of 23.41.
Progressive Waste Solutions (NYSE:BIN) last announced its earnings results on Friday, July 25th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.10. The company had revenue of $513.50 million for the quarter, compared to the consensus estimate of $511.68 million. Progressive Waste Solutions’s revenue was down .6% compared to the same quarter last year. On average, analysts predict that Progressive Waste Solutions will post $1.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, September 26th.
Progressive Waste Solutions Ltd., formerly IESI-BFC Ltd. is a waste management company. The Company provides non-hazardous solid waste collection and disposal services to commercial, industrial, municipal and residential customers in 12 states and the District of Columbia in the United States and six Canadian provinces.
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