Equities analysts predict that Waste Connections Inc (NYSE:WCN) will report sales of $1.27 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Waste Connections’ earnings. Waste Connections reported sales of $1.21 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The company is expected to announce its next quarterly earnings report 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 financial year, analysts forecast that the firm 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 issued its quarterly earnings data on Tuesday, July 24th. The business services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. Waste Connections’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share.
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 price target on the stock in a research report on Saturday, July 7th. Citigroup upped their price target on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. BMO Capital Markets upped their price target on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. Royal Bank of Canada upped their price target on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Finally, TD Securities upped their price target on shares of Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $83.00.
In other news, Director Michael W. Harlan sold 11,900 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $79.30, for a total transaction of $943,670.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David Eddie sold 20,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $80.06, for a total transaction of $1,601,200.00. Following the transaction, the vice president now directly owns 36,320 shares in the company, valued at approximately $2,907,779.20. The disclosure for this sale can be found here. Insiders have sold a total of 38,385 shares of company stock worth $3,063,670 in the last three months. Insiders own 0.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Waste Connections by 4.6% during the 1st quarter. Royal Bank of Canada now owns 10,560,499 shares of the business services provider’s stock worth $757,609,000 after purchasing an additional 467,951 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Waste Connections by 1.5% in the 1st quarter. JPMorgan Chase & Co. now owns 9,873,222 shares of the business services provider’s stock worth $708,306,000 after acquiring an additional 147,543 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 worth $305,661,000 after acquiring an additional 404,508 shares during the last quarter. CIBC World Markets Inc. raised its holdings in shares of Waste Connections by 3.4% in the 1st quarter. CIBC World Markets Inc. now owns 3,073,757 shares of the business services provider’s stock worth $220,511,000 after acquiring an additional 100,669 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Waste Connections by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,976,711 shares of the business services provider’s stock worth $224,093,000 after acquiring an additional 124,200 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.
WCN traded up $0.33 during trading on Monday, reaching $79.44. 311,400 shares of the stock traded hands, compared to its average volume of 741,246. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $20.95 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.72 and a beta of 0.07. Waste Connections has a 12 month low of $65.06 and a 12 month high of $81.36.
The business also recently disclosed 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 0.70%. Waste Connections’s dividend payout ratio (DPR) is presently 25.93%.
About Waste Connections
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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