Waste Connections Inc (NYSE:WCN) – Oppenheimer raised their FY2018 EPS estimates for shares of Waste Connections in a note issued to investors on Wednesday, October 31st. Oppenheimer analyst N. Kaye now forecasts that the business services provider will post earnings per share of $2.51 for the year, up from their previous forecast of $2.48. Oppenheimer has a “Buy” rating and a $87.00 price target on the stock. Oppenheimer also issued estimates for Waste Connections’ Q4 2018 earnings at $0.61 EPS.
WCN has been the topic of several other reports. TD Securities boosted their price objective on shares of Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Royal Bank of Canada boosted their price objective on shares of Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Saturday, July 7th. BMO Capital Markets boosted their price objective on shares of Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group set a $90.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.80.
Shares of WCN stock opened at $75.17 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.58. Waste Connections has a 1 year low of $65.06 and a 1 year high of $81.36. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.66 and a beta of 0.05.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Monday, October 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business earned $0.60 EPS. The company’s revenue was up 6.2% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently made changes to their positions in WCN. Zions Bancorporation acquired a new position in Waste Connections in the 2nd quarter valued at about $178,000. Jaffetilchin Investment Partners LLC acquired a new position in Waste Connections in the 2nd quarter valued at about $203,000. Nisa Investment Advisors LLC bought a new stake in Waste Connections in the 3rd quarter valued at about $204,000. Trexquant Investment LP bought a new stake in Waste Connections in the 2nd quarter valued at about $216,000. Finally, Cumberland Partners Ltd bought a new stake in Waste Connections in the 2nd quarter valued at about $236,000. Institutional investors and hedge funds own 81.64% of the company’s stock.
In related news, COO Darrell W. Chambliss sold 6,485 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Eddie sold 20,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $80.06, for a total transaction of $1,601,200.00. Following the completion of the transaction, the vice president now 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 over the last 90 days. 0.40% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, November 9th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 0.85%. Waste Connections’s payout ratio is currently 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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