Brokerages forecast that Waste Connections Inc (NYSE:WCN) will announce sales of $1.13 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Waste Connections’ earnings. The highest sales estimate is $1.14 billion and the lowest is $1.13 billion. Waste Connections posted sales of $1.09 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.7%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, May 2nd.
On average, analysts expect that Waste Connections will report full year sales of $1.13 billion for the current year, with estimates ranging from $4.83 billion to $4.86 billion. For the next year, analysts forecast that the company will post sales of $5.11 billion per share, with estimates ranging from $5.07 billion to $5.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Waste Connections.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Waste Connections had a net margin of 12.46% and a return on equity of 9.63%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company posted $0.46 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year.
WCN has been the topic of a number of research analyst reports. Credit Suisse Group restated an “outperform” rating on shares of Waste Connections in a research note on Tuesday, February 20th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Monday, February 19th. BMO Capital Markets restated a “buy” rating and issued a $80.00 price target (up from $79.00) on shares of Waste Connections in a research note on Thursday. Bank of America initiated coverage on shares of Waste Connections in a research note on Friday, December 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target on shares of Waste Connections in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $79.28.
In other Waste Connections news, insider James Little sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $70.49, for a total transaction of $352,450.00. Following the completion of the transaction, the insider now owns 25,709 shares in the company, valued at approximately $1,812,227.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ronald J. Mittelstaedt sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $73.32, for a total transaction of $3,299,400.00. Following the transaction, the chief executive officer now owns 100,462 shares of the company’s stock, valued at approximately $7,365,873.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,571 shares of company stock valued at $4,911,600. 0.68% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new position in Waste Connections during the 3rd quarter worth approximately $103,000. Cerebellum GP LLC bought a new position in Waste Connections during the 4th quarter worth approximately $125,000. SG Americas Securities LLC bought a new position in Waste Connections during the 4th quarter worth approximately $194,000. Timber Hill LLC bought a new position in Waste Connections during the 4th quarter worth approximately $206,000. Finally, Advisor Partners LLC bought a new position in Waste Connections during the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 84.21% of the company’s stock.
WCN opened at $72.36 on Friday. Waste Connections has a 1-year low of $58.33 and a 1-year high of $74.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $19,181.67, a PE ratio of 33.50, a P/E/G ratio of 2.67 and a beta of 0.18.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. Waste Connections’s dividend payout ratio (DPR) is presently 25.93%.
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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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