Progressive Waste Solutions Raised to “Outperform” at BMO Capital Markets (BIN)
Progressive Waste Solutions (NYSE:BIN) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Progressive Waste Solutions in a research note on Thursday, July 31st. They set a “hold” rating on the stock. Separately, analysts at Macquarie reiterated an “underperform” rating on shares of Progressive Waste Solutions in a research note on Monday, July 28th. They now have a $22.00 price target on the stock, up previously from $21.00. Finally, analysts at Zacks upgraded shares of Progressive Waste Solutions from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $26.70 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.22.
Progressive Waste Solutions (NYSE:BIN) opened at 25.23 on Thursday. Progressive Waste Solutions has a 52-week low of $22.11 and a 52-week high of $27.18. The stock’s 50-day moving average is $24.98 and its 200-day moving average is $25.1. The company has a market cap of $2.883 billion and a P/E ratio of 23.77.
Progressive Waste Solutions (NYSE:BIN) last released its earnings data on Friday, July 25th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Progressive Waste Solutions will post $1.16 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 2.54%. 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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