Waste Connections Inc (NYSE:WCN) has earned an average rating of “Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $85.50.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Saturday, October 13th. UBS Group set a $90.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a report on Wednesday, October 31st. BMO Capital Markets upped their price objective on shares of Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Oppenheimer set a $87.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, TD Securities upped their price objective on shares of Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 26th.
Shares of WCN traded down $0.04 during trading hours on Thursday, reaching $76.28. 17,000 shares of the company traded hands, compared to its average volume of 904,956. The firm has a market capitalization of $19.84 billion, a P/E ratio of 35.31, a P/E/G ratio of 2.56 and a beta of 0.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.25. Waste Connections has a 1-year low of $65.06 and a 1-year high of $81.36.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Waste Connections will post 2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be issued a $0.16 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.84%. This is an increase from Waste Connections’s previous quarterly dividend of $0.14. Waste Connections’s dividend payout ratio is currently 25.93%.
In other Waste Connections news, VP David Eddie sold 20,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $80.06, for a total transaction of $1,601,200.00. Following the completion of the sale, the vice president now directly owns 36,320 shares in the company, valued at $2,907,779.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Darrell W. Chambliss sold 6,485 shares of Waste Connections stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total transaction of $518,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,385 shares of company stock valued at $3,063,670. 0.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of WCN. TD Asset Management Inc. boosted its stake in Waste Connections by 0.6% in the 3rd quarter. TD Asset Management Inc. now owns 5,249,729 shares of the business services provider’s stock worth $418,216,000 after purchasing an additional 31,169 shares in the last quarter. Renaissance Technologies LLC raised its position in Waste Connections by 4.4% during the second quarter. Renaissance Technologies LLC now owns 2,976,711 shares of the business services provider’s stock valued at $224,093,000 after acquiring an additional 124,200 shares in the last quarter. BlackRock Inc. raised its position in Waste Connections by 4.3% during the second quarter. BlackRock Inc. now owns 2,826,679 shares of the business services provider’s stock valued at $212,793,000 after acquiring an additional 116,433 shares in the last quarter. Brown Advisory Inc. raised its position in Waste Connections by 1.6% during the second quarter. Brown Advisory Inc. now owns 2,067,697 shares of the business services provider’s stock valued at $155,749,000 after acquiring an additional 33,296 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Waste Connections by 20.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,046,843 shares of the business services provider’s stock valued at $154,091,000 after acquiring an additional 349,520 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
About Waste Connections
Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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