Zacks: Analysts Anticipate Waste Connections Inc (WCN) to Announce $0.49 EPS

Wall Street brokerages expect Waste Connections Inc (NYSE:WCN) to announce earnings per share (EPS) of $0.49 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Waste Connections’ earnings, with estimates ranging from $0.48 to $0.51. Waste Connections reported earnings of $0.45 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.9%. The business is expected to report its next earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Waste Connections will report full year earnings of $2.13 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.16. For the next financial year, analysts forecast that the firm will post earnings of $2.41 per share, with EPS estimates ranging from $2.17 to $2.57. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Waste Connections.

Several brokerages have commented on WCN. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research report on Saturday, January 13th. Credit Suisse Group set a $82.00 price objective on shares of Waste Connections and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Oppenheimer boosted their price objective on shares of Waste Connections from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Royal Bank of Canada boosted their price objective on shares of Waste Connections from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Finally, BMO Capital Markets began coverage on shares of Waste Connections in a report on Monday, December 11th. They set an “outperform” rating and a $79.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Waste Connections presently has a consensus rating of “Buy” and a consensus price target of $78.56.

Large investors have recently made changes to their positions in the company. Achmea Investment Management B.V. increased its holdings in shares of Waste Connections by 50.0% during the second quarter. Achmea Investment Management B.V. now owns 10,653 shares of the business services provider’s stock worth $686,000 after buying an additional 3,551 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Waste Connections by 55.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 188,451 shares of the business services provider’s stock worth $13,184,000 after buying an additional 67,596 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Waste Connections by 1,350.8% during the third quarter. Asset Management One Co. Ltd. now owns 417,171 shares of the business services provider’s stock worth $29,186,000 after buying an additional 388,417 shares in the last quarter. Crestline Management LP grew its stake in shares of Waste Connections by 3.2% in the third quarter. Crestline Management LP now owns 80,000 shares of the business services provider’s stock worth $5,597,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Guardian Capital LP grew its stake in shares of Waste Connections by 0.5% in the third quarter. Guardian Capital LP now owns 1,988,153 shares of the business services provider’s stock worth $138,671,000 after purchasing an additional 10,077 shares during the last quarter. Institutional investors own 82.11% of the company’s stock.

Shares of Waste Connections (NYSE:WCN) traded up $0.52 on Wednesday, reaching $69.01. 394,041 shares of the company’s stock traded hands, compared to its average volume of 864,851. Waste Connections has a 1-year low of $54.16 and a 1-year high of $74.20. The firm has a market capitalization of $17,888.04, a P/E ratio of 52.30, a P/E/G ratio of 3.57 and a beta of 0.16. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66.

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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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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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