Waste Connections, Inc. Declares Quarterly Dividend of $0.12 (WCN)
Waste Connections, Inc. (NYSE:WCN) announced a quarterly dividend on Tuesday, July 25th, RTT News reports. Stockholders of record on Tuesday, August 8th will be given a dividend of 0.12 per share by the business services provider on Tuesday, August 22nd. This represents a $0.48 annualized dividend and a dividend yield of 0.74%.
Waste Connections has increased its dividend payment by an average of 14.0% annually over the last three years and has raised its dividend every year for the last 7 years. Waste Connections has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Waste Connections to earn $2.39 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 30.1%.
Shares of Waste Connections (NYSE:WCN) traded up 1.33% on Tuesday, reaching $64.75. 1,401,471 shares of the company were exchanged. Waste Connections has a 52-week low of $47.81 and a 52-week high of $67.06. The stock has a 50 day moving average of $64.75 and a 200-day moving average of $59.67. The company has a market capitalization of $17.05 billion, a P/E ratio of 75.12 and a beta of 0.24.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Waste Connections had a net margin of 5.48% and a return on equity of 8.37%. The firm’s revenue was up 112.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, analysts predict that Waste Connections will post $2.09 EPS for the current fiscal year.
Several analysts have issued reports on WCN shares. BidaskClub downgraded shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $67.33 price objective for the company in a research report on Tuesday, April 25th. Credit Suisse Group reissued a “buy” rating and issued a $75.00 price objective on shares of Waste Connections in a research report on Friday, June 23rd. Barclays PLC reaffirmed a “buy” rating and set a $68.00 price target on shares of Waste Connections in a research report on Friday, June 23rd. Finally, Stifel Nicolaus upped their price target 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.83.
In related news, President Steven F. Bouck sold 15,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $96.05, for a total value 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 acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost of $92.05 per share, for a total transaction of $110,460.00. Following the acquisition, the director now owns 3,679 shares in the company, valued at $338,651.95. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 24,400 shares of company stock worth $2,350,516. Insiders own 0.68% of the company’s stock.
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About Waste Connections
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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