Equities research analysts at Deutsche Bank began coverage on shares of Waste Connections (NYSE:WCN) in a note issued to investors on Friday, The Fly reports. The firm set a “buy” rating and a $106.00 price target on the business services provider’s stock. Deutsche Bank’s price objective suggests a potential upside of 8.24% from the stock’s current price.
Several other research analysts have also recently issued reports on WCN. Stifel Nicolaus set a $105.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Monday, September 23rd. ValuEngine upgraded Waste Connections from a “sell” rating to a “hold” rating in a research report on Wednesday, December 18th. Raymond James increased their price objective on Waste Connections from $106.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Waste Connections in a research report on Wednesday, November 27th. They issued a “buy” rating and a $106.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on Waste Connections from $104.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $100.16.
NYSE:WCN traded up $0.25 during trading hours on Friday, hitting $97.94. The company’s stock had a trading volume of 72,721 shares, compared to its average volume of 674,633. The business’s 50-day moving average is $91.38 and its two-hundred day moving average is $91.89. The company has a market capitalization of $25.37 billion, a PE ratio of 38.86, a PEG ratio of 3.70 and a beta of 0.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. Waste Connections has a 52-week low of $78.12 and a 52-week high of $97.93.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. Waste Connections’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, analysts predict that Waste Connections will post 2.64 EPS for the current fiscal year.
In related news, VP David Eddie sold 934 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $90.55, for a total transaction of $84,573.70. Following the sale, the vice president now directly owns 41,023 shares in the company, valued at approximately $3,714,632.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in Waste Connections by 82.5% during the 2nd quarter. BlackRock Inc. now owns 5,744,080 shares of the business services provider’s stock worth $549,020,000 after acquiring an additional 2,595,817 shares during the period. Invesco Ltd. raised its position in shares of Waste Connections by 307.2% during the second quarter. Invesco Ltd. now owns 1,726,038 shares of the business services provider’s stock worth $164,974,000 after purchasing an additional 1,302,171 shares during the period. Waratah Capital Advisors Ltd. raised its position in shares of Waste Connections by 5,316.2% during the third quarter. Waratah Capital Advisors Ltd. now owns 1,214,194 shares of the business services provider’s stock worth $111,593,000 after purchasing an additional 1,191,776 shares during the period. Waddell & Reed Financial Inc. purchased a new position in shares of Waste Connections during the second quarter valued at $74,847,000. Finally, Royal Bank of Canada grew its holdings in shares of Waste Connections by 6.7% during the second quarter. Royal Bank of Canada now owns 10,154,114 shares of the business services provider’s stock valued at $970,530,000 after buying an additional 637,641 shares in the last quarter. Institutional investors own 82.73% of the company’s stock.
About Waste Connections
Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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