Waste Connections, Inc. (TSE:WCN) Forecasted to Post Q2 2024 Earnings of $1.45 Per Share

Waste Connections, Inc. (TSE:WCN) – Equities researchers at Atb Cap Markets reduced their Q2 2024 earnings estimates for Waste Connections in a research report issued on Thursday, April 25th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings of $1.45 per share for the quarter, down from their prior estimate of $1.59. Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $8.94 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.66 EPS, FY2024 earnings at $6.21 EPS, Q1 2025 earnings at $1.45 EPS, Q2 2025 earnings at $1.71 EPS, Q3 2025 earnings at $1.89 EPS and FY2025 earnings at $6.96 EPS.

Waste Connections (TSE:WCN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported C$1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.38 by C$0.02. The company had revenue of C$2.79 billion for the quarter, compared to the consensus estimate of C$2.78 billion. Waste Connections had a return on equity of 10.30% and a net margin of 9.51%.

Other equities analysts also recently issued reports about the stock. ATB Capital increased their price objective on shares of Waste Connections from C$235.00 to C$240.00 and gave the company a “sector perform” rating in a report on Friday. Royal Bank of Canada lifted their price objective on Waste Connections from C$169.00 to C$182.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$193.10.

Waste Connections Price Performance

Waste Connections stock opened at C$223.55 on Monday. The stock has a market capitalization of C$57.68 billion, a P/E ratio of 55.47, a P/E/G ratio of 2.22 and a beta of 0.66. The company’s fifty day moving average price is C$228.55 and its 200 day moving average price is C$206.43. The company has a debt-to-equity ratio of 91.42, a quick ratio of 0.74 and a current ratio of 0.68. Waste Connections has a 1 year low of C$174.74 and a 1 year high of C$234.79.

Insider Activity at Waste Connections

In related news, Director Andrea Elisabeth Bertone sold 902 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of C$169.17, for a total value of C$152,589.90. In other Waste Connections news, Senior Officer Matthew Stephen Black sold 4,128 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of C$167.34, for a total value of C$690,760.94. Also, Director Andrea Elisabeth Bertone sold 902 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of C$169.17, for a total transaction of C$152,589.90. In the last quarter, insiders sold 18,026 shares of company stock valued at $3,043,157. Corporate insiders own 0.28% of the company’s stock.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be given a dividend of $0.385 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 0.69%. Waste Connections’s payout ratio is presently 38.21%.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.