Equities research analysts predict that Waste Connections Inc (NYSE:WCN) will report earnings of $0.68 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Waste Connections’ earnings. The lowest EPS estimate is $0.65 and the highest is $0.69. Waste Connections reported earnings of $0.60 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The firm is expected to issue its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Waste Connections will report full-year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.47 to $2.55. For the next year, analysts anticipate that the business will post earnings of $2.82 per share, with EPS estimates ranging from $2.72 to $2.93. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Waste Connections.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis.
A number of research analysts recently commented on WCN shares. Zacks Investment Research downgraded Waste Connections from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Royal Bank of Canada upped their price objective on Waste Connections from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. BMO Capital Markets upped their price objective on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, June 29th. TD Securities upped their price objective on Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Finally, Citigroup upped their price objective on Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Waste Connections presently has an average rating of “Buy” and an average target price of $83.00.
Shares of Waste Connections traded down $0.50, reaching $78.87, during trading on Friday, according to MarketBeat Ratings. The stock had a trading volume of 517,583 shares, compared to its average volume of 682,300. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.71 and a beta of 0.07. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.60. Waste Connections has a one year low of $63.47 and a one year high of $79.63.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 21st. Shareholders of record on Tuesday, August 7th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, August 6th. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. Waste Connections’s dividend payout ratio (DPR) is presently 25.93%.
In other Waste Connections news, VP Patrick James Shea sold 11,500 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $75.07, for a total transaction of $863,305.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Stephen Black sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $75.94, for a total value of $379,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock valued at $2,994,745 in the last quarter. 0.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Stephens Inc. AR lifted its holdings in shares of Waste Connections by 15.5% in the first quarter. Stephens Inc. AR now owns 6,191 shares of the business services provider’s stock valued at $444,000 after buying an additional 831 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Waste Connections by 11.1% in the first quarter. IFM Investors Pty Ltd now owns 8,522 shares of the business services provider’s stock valued at $611,000 after buying an additional 850 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Waste Connections by 6.4% during the second quarter. Envestnet Asset Management Inc. now owns 14,329 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 860 shares during the period. Guggenheim Capital LLC raised its position in shares of Waste Connections by 5.5% during the fourth quarter. Guggenheim Capital LLC now owns 17,870 shares of the business services provider’s stock worth $1,268,000 after purchasing an additional 937 shares during the period. Finally, Usca Ria LLC raised its position in shares of Waste Connections by 13.6% during the first quarter. Usca Ria LLC now owns 10,524 shares of the business services provider’s stock worth $755,000 after purchasing an additional 1,258 shares during the period. Institutional investors own 83.76% of the company’s stock.
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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