Shares of Waste Connections Inc (NYSE:WCN) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $77.87.
Several analysts have commented on the stock. KeyCorp boosted their price target on shares of Waste Connections from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Oppenheimer boosted their price target on shares of Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. BMO Capital Markets assumed coverage on shares of Waste Connections in a research note on Monday, December 11th. They issued an “outperform” rating and a $79.00 price target on the stock. Zacks Investment Research cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Stifel Nicolaus upped their target price on shares of Waste Connections from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th.
Shares of Waste Connections (WCN) traded up $0.42 during mid-day trading on Monday, reaching $70.96. 898,924 shares of the company’s stock traded hands, compared to its average volume of 796,446. The stock has a market cap of $18,539.23, a PE ratio of 33.54, a P/E/G ratio of 4.19 and a beta of 0.17. Waste Connections has a 1-year low of $52.18 and a 1-year high of $74.20. 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 (NYSE:WCN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. research analysts forecast that Waste Connections will post 2.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. This is a boost from Waste Connections’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 7th. Waste Connections’s dividend payout ratio is currently 42.42%.
In other news, Director Robert Davis sold 700 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total transaction of $399,318.75. Following the sale, the chief operating officer now owns 101,292 shares in the company, valued at $7,190,719.08. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. grew its holdings in Waste Connections by 55.8% during 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 during the last quarter. Advisors Asset Management Inc. bought a new position in Waste Connections during the 3rd quarter valued at about $103,000. Fieldpoint Private Securities LLC grew its holdings in Waste Connections by 50.0% during 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 during the last quarter. US Bancorp DE grew its holdings in Waste Connections by 14.3% during 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 during the last quarter. Finally, BB&T Investment Services Inc. bought a new position in Waste Connections during the 2nd quarter valued at about $217,000. Institutional investors own 82.90% of the company’s stock.
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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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