Waste Connections, Inc. (WCN) PT Raised to $78.00

Waste Connections, Inc. (NYSE:WCN) had its target price increased by Oppenheimer Holdings, Inc. from $74.00 to $78.00 in a research report released on Friday, October 27th. The brokerage currently has an outperform rating on the business services provider’s stock. Oppenheimer Holdings also issued estimates for Waste Connections’ Q4 2017 earnings at $0.49 EPS.

A number of other research firms have also recently weighed in on WCN. Stifel Nicolaus raised their price target on shares of Waste Connections from $75.00 to $80.00 and gave the company a buy rating in a report on Wednesday, October 4th. TD Securities lifted their price objective on shares of Waste Connections from $67.00 to $73.00 and gave the company a hold rating in a research note on Thursday, July 27th. Barclays PLC lifted their target price on shares of Waste Connections from $70.00 to $76.00 and gave the company an overweight rating in a report on Monday, August 7th. Zacks Investment Research raised shares of Waste Connections from a hold rating to a buy rating and set a $79.00 target price for the company in a report on Thursday, October 5th. Finally, Royal Bank of Canada boosted their price target on shares of Waste Connections from $74.00 to $76.00 and gave the stock an outperform rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $77.87.

Waste Connections (NYSE WCN) opened at $69.29 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.46. Waste Connections has a 12-month low of $48.78 and a 12-month high of $74.20. The firm has a market cap of $18,201.77, a price-to-earnings ratio of 32.93, a P/E/G ratio of 4.11 and a beta of 0.18.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. analysts expect that Waste Connections will post 2.13 EPS for the current year.

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Waste Connections announced that its board has authorized a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase 13,180,000 shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.14 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, November 7th. Waste Connections’s dividend payout ratio is currently 42.42%.

In other Waste Connections news, COO Darrell W. Chambliss sold 5,625 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the completion of the sale, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Davis sold 700 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of WCN. Advisors Asset Management Inc. purchased a new stake in Waste Connections in the 3rd quarter valued at about $103,000. Thompson Davis & CO. Inc. lifted its stake in shares of Waste Connections by 55.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 559 shares in the last quarter. Independent Portfolio Consultants Inc. lifted its stake in shares of Waste Connections by 10.1% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 168 shares in the last quarter. Fieldpoint Private Securities LLC lifted its stake in shares of Waste Connections by 50.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 702 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Waste Connections by 14.3% in the 2nd quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

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.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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