Zacks: Brokerages Expect Waste Connections, Inc. (WCN) Will Post Quarterly Sales of $1.15 Billion
Wall Street analysts forecast that Waste Connections, Inc. (NYSE:WCN) will post $1.15 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Waste Connections’ earnings. The lowest sales estimate is $1.14 billion and the highest is $1.16 billion. Waste Connections reported sales of $727.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 58%. The company is expected to report its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Waste Connections will report full year sales of $1.15 billion for the current year, with estimates ranging from $4.45 billion to $4.57 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.73 billion per share, with estimates ranging from $4.69 billion to $4.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Waste Connections.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Waste Connections had a return on equity of 8.37% and a net margin of 5.48%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. Waste Connections’s revenue for the quarter was up 112.0% on a year-over-year basis.
A number of research firms have commented on WCN. Royal Bank Of Canada lifted their target price on shares of Waste Connections from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, June 23rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $64.00) on shares of Waste Connections in a research report on Friday, June 23rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Waste Connections in a research report on Friday, June 23rd. Barclays PLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Waste Connections in a research report on Friday, June 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Waste Connections from $66.50 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $65.59.
In related news, President Steven F. Bouck sold 15,000 shares of Waste Connections stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $96.05, for a total transaction of $1,440,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan Lee bought 800 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were purchased at an average price of $96.97 per share, for a total transaction of $77,576.00. Following the purchase, the director now owns 5,079 shares in the company, valued at approximately $492,510.63. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 24,400 shares of company stock worth $2,350,516. 0.68% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCN. Spirit of America Management Corp NY purchased a new position in Waste Connections during the first quarter worth $110,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Waste Connections by 34.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,585 shares of the business services provider’s stock worth $125,000 after buying an additional 404 shares during the period. Independent Portfolio Consultants Inc. purchased a new position in Waste Connections during the first quarter worth $147,000. Pacad Investment Ltd. purchased a new position in Waste Connections during the fourth quarter worth $134,000. Finally, Capital One National Association purchased a new position in Waste Connections during the first quarter worth $208,000. Institutional investors own 55.62% of the company’s stock.
Waste Connections (NYSE:WCN) traded up 0.56% during midday trading on Friday, hitting $64.57. The company’s stock had a trading volume of 183,351 shares. Waste Connections has a 12 month low of $63.42 and a 12 month high of $100.59. The firm has a market cap of $17.00 billion, a P/E ratio of 74.91 and a beta of 0.24. The company’s 50 day moving average price is $87.18 and its 200 day moving average price is $85.20.
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Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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