Analysts forecast that Waste Connections Inc (NYSE:WCN) will post sales of $1.27 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Waste Connections’ earnings. Waste Connections posted sales of $1.21 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Waste Connections will report full-year sales of $4.88 billion for the current year, with estimates ranging from $4.88 billion to $4.89 billion. For the next fiscal year, analysts expect that the business will post sales of $5.22 billion per share, with estimates ranging from $5.18 billion to $5.27 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Waste Connections.
Waste Connections (NYSE:WCN) last released its earnings results on Tuesday, July 24th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year.
A number of analysts have commented on WCN shares. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Saturday, July 7th. Citigroup lifted their target price on shares of Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. BMO Capital Markets lifted their target price on shares of Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, June 29th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, TD Securities lifted their price target on shares of Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $83.00.
WCN traded down $0.16 during trading on Monday, reaching $79.11. 433,252 shares of the company’s stock were exchanged, compared to its average volume of 567,178. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.15 and a current ratio of 1.15. Waste Connections has a fifty-two week low of $65.06 and a fifty-two week high of $81.36. The firm has a market capitalization of $20.95 billion, a PE ratio of 36.63, a P/E/G ratio of 2.72 and a beta of 0.07.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Stockholders of record on Tuesday, August 7th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, August 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. Waste Connections’s dividend payout ratio is 25.93%.
In related news, Director Michael W. Harlan sold 11,900 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $79.30, for a total value of $943,670.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Eddie sold 20,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 38,385 shares of company stock worth $3,063,670. Insiders own 0.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of WCN. Toronto Dominion Bank lifted its position in Waste Connections by 115.0% in the 2nd quarter. Toronto Dominion Bank now owns 1,126,901 shares of the business services provider’s stock valued at $85,916,000 after acquiring an additional 602,814 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in Waste Connections by 1,918.9% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 522,742 shares of the business services provider’s stock valued at $37,481,000 after acquiring an additional 496,850 shares in the last quarter. Unigestion Holding SA bought a new stake in Waste Connections in the 2nd quarter valued at $35,412,000. Royal Bank of Canada lifted its position in Waste Connections by 4.6% in the 1st quarter. Royal Bank of Canada now owns 10,560,499 shares of the business services provider’s stock valued at $757,609,000 after acquiring an additional 467,951 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Waste Connections by 10.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,260,678 shares of the business services provider’s stock valued at $305,661,000 after acquiring an additional 404,508 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.
Waste Connections Company Profile
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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