Waste Connections (NYSE: WCN) has recently received a number of price target changes and ratings updates:

  • 10/31/2017 – Waste Connections was given a new $82.00 price target on by analysts at Credit Suisse Group. They now have an “outperform” rating on the stock.
  • 10/27/2017 – Waste Connections had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $78.00 price target on the stock.
  • 10/27/2017 – Waste Connections had its price target raised by analysts at TD Securities from $73.00 to $74.00. They now have a “hold” rating on the stock.
  • 10/27/2017 – Waste Connections had its price target raised by analysts at Royal Bank Of Canada from $76.00 to $80.00. They now have an “outperform” rating on the stock.
  • 10/27/2017 – Waste Connections had its price target raised by analysts at Oppenheimer Holdings, Inc. from $74.00 to $78.00. They now have an “outperform” rating on the stock.
  • 10/16/2017 – Waste Connections was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Waste Connections has outperformed the industry year to date. With prime location of disposal sites within competitive markets, Waste Connections has optimal asset positioning to generate higher profitability. Its merger with Progressive Waste Solutions is expected to generate about $50 million in annualized SG&A cost savings within the first 12 months after closing. An experienced management team and decentralized operations remain additional tailwinds. However, seasonal factors and stiff competition remain headwinds. The volatility in crude oil prices is expected to impair the profitability and creditworthiness of Waste Connections and adversely affect the level of investment and linear feet drilled in the basins where it operates. In addition, the industry is subject to regular enactment of new or amended federal, state and local statutes and regulations that further impose substantial capital and operational limitations.”
  • 10/13/2017 – Waste Connections had its price target raised by analysts at KeyCorp from $72.00 to $75.00. They now have an “overweight” rating on the stock.
  • 10/5/2017 – Waste Connections was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $79.00 price target on the stock. According to Zacks, “Waste Connections has outperformed the industry year to date. With prime location of disposal sites within competitive markets, Waste Connections has optimal asset positioning to generate higher profitability. The merger of Waste Connections with Progressive Waste Solutions has arguably created an industry leader with enhanced scale and a stronger financial profile. The combined entity is expected to generate approximately $50 million in annualized SG&A cost savings within the first 12 months after closing. An experienced management team and a decentralized operating strategy remain additional tailwinds. A vertically integrated services portfolio offers a competitive advantage. Waste Connections also aims to leverage its franchise-based platforms to expand customer base beyond the exclusive market territories. However, stringent health and safety laws, seasonal factors and stiff competition remain headwinds.”
  • 10/4/2017 – Waste Connections had its price target raised by analysts at Stifel Nicolaus from $75.00 to $80.00. They now have a “buy” rating on the stock.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.72 EPS. Waste Connections’s revenue for the quarter was up 11.2% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.79%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, November 7th. Waste Connections’s dividend payout ratio (DPR) is presently 36.36%.

In related news, Director Robert Davis sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $71.72, for a total transaction of $50,204.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by company insiders.

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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