Waste Connections, Inc. (NYSE:WCN) - Equities research analysts at KeyCorp boosted their Q3 2017 earnings estimates for shares of Waste Connections in a research note issued on Wednesday. KeyCorp analyst J. Box now forecasts that the business services provider will post earnings per share of $0.57 for the quarter, up from their prior forecast of $0.56. KeyCorp also issued estimates for Waste Connections’ FY2017 earnings at $2.13 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.59 EPS.
Several other analysts have also recently weighed in on WCN. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $67.33 price objective on the stock in a research report on Tuesday, April 25th. Wedbush restated an “outperform” rating and set a $76.67 price objective (up previously from $62.00) on shares of Waste Connections in a research report on Friday, April 28th. Royal Bank Of Canada lowered their price objective on shares of Waste Connections from $68.00 to $63.33 and set an “outperform” rating on the stock in a research report on Friday, April 28th. TD Securities lowered their price objective on shares of Waste Connections from $66.67 to $63.33 and set a “hold” rating on the stock in a research report on Friday, April 28th. Finally, Barclays PLC restated a “buy” rating on shares of Waste Connections in a research report on Friday, April 28th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $68.51.
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Shares of Waste Connections (NYSE:WCN) opened at 65.06 on Monday. Waste Connections has a 1-year low of $47.81 and a 1-year high of $67.14. The firm’s 50 day moving average is $64.91 and its 200-day moving average is $59.92. The company has a market cap of $17.14 billion, a PE ratio of 55.32 and a beta of 0.24.
Waste Connections (NYSE:WCN) last posted its earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The company’s revenue was up 61.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, August 4th. Waste Connections’s dividend payout ratio (DPR) is presently 40.56%.
In other Waste Connections news, President Steven F. Bouck sold 15,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $96.05, for a total value of $1,440,750.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael W. Harlan sold 3,400 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $96.49, for a total transaction of $328,066.00. The disclosure for this sale can be found here. In the last three months, insiders sold 24,400 shares of company stock worth $2,350,516. Insiders own 0.68% of the company’s stock.
Large investors have recently made changes to their positions in the company. Northstar Asset Management LLC purchased a new stake in shares of Waste Connections during the first quarter worth about $905,000. Janney Montgomery Scott LLC raised its stake in shares of Waste Connections by 15.1% in the first quarter. Janney Montgomery Scott LLC now owns 5,067 shares of the business services provider’s stock worth $447,000 after buying an additional 663 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Waste Connections during the first quarter worth about $612,000. Independent Portfolio Consultants Inc. purchased a new stake in shares of Waste Connections during the first quarter worth about $147,000. Finally, Korea Investment CORP raised its stake in shares of Waste Connections by 479.3% in the first quarter. Korea Investment CORP now owns 7,572 shares of the business services provider’s stock worth $668,000 after buying an additional 6,265 shares during the period. 57.70% of the stock is currently owned by institutional investors and hedge funds.
Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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