Goldman Sachs Group upgraded shares of Waste Connections (NYSE:WCN) to a buy rating in a research report report published on Tuesday. Goldman Sachs Group currently has $94.00 price target on the business services provider’s stock.
A number of other brokerages have also recently weighed in on WCN. 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, October 13th. Oppenheimer set a $87.00 price objective on shares of Waste Connections and gave the company a buy rating in a research note on Wednesday, October 31st. BMO Capital Markets lifted their price objective on shares of Waste Connections from $86.00 to $88.00 and gave the company a buy rating in a research note on Wednesday, October 31st. UBS Group set a $90.00 price objective on shares of Waste Connections and gave the company a buy rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Waste Connections from $84.00 to $85.00 and gave the company an outperform rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $86.09.
WCN stock opened at $77.91 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 2.65 and a beta of 0.14. Waste Connections has a 1 year low of $65.06 and a 1 year high of $81.36.
Waste Connections (NYSE:WCN) last posted its earnings results on Monday, October 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Waste Connections had a return on equity of 10.07% and a net margin of 15.14%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. As a group, analysts predict that Waste Connections will post 2.51 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th were issued a dividend of $0.16 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, November 9th. Waste Connections’s payout ratio is presently 29.63%.
A number of large investors have recently added to or reduced their stakes in WCN. Zions Bancorporation acquired a new position in Waste Connections during the second quarter worth about $178,000. Nisa Investment Advisors LLC acquired a new position in Waste Connections during the third quarter worth about $204,000. Trexquant Investment LP acquired a new position in Waste Connections during the second quarter worth about $216,000. Cumberland Partners Ltd acquired a new position in Waste Connections during the second quarter worth about $236,000. Finally, Signition LP acquired a new position in Waste Connections during the third quarter worth about $255,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.
Waste Connections Company Profile
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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