Waste Connections (NYSE:WCN – Get Free Report) issued its quarterly earnings data on Wednesday. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05, Briefing.com reports. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. Waste Connections’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. Waste Connections updated its FY 2024 guidance to EPS.
Waste Connections Stock Performance
WCN traded down $2.76 during trading on Friday, reaching $175.80. 779,918 shares of the company’s stock were exchanged, compared to its average volume of 882,017. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. Waste Connections has a 1 year low of $126.12 and a 1 year high of $187.54. The company’s fifty day simple moving average is $182.08 and its 200-day simple moving average is $175.07. The stock has a market capitalization of $45.36 billion, a P/E ratio of 57.11, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72.
Waste Connections Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.72%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is currently 37.01%.
Analysts Set New Price Targets
Get Our Latest Stock Report on WCN
Insider Activity
In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the transaction, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the transaction, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Susan Netherton sold 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the transaction, the senior vice president now owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,600 shares of company stock valued at $3,842,550 in the last ninety days. Insiders own 0.31% of the company’s stock.
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.
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