Royal Bank of Canada set a $100.00 price objective on Waste Connections (NYSE:WCN) in a research note issued to investors on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the business services provider’s stock.
A number of other analysts have also issued reports on WCN. Bank of America reiterated a buy rating and issued a $98.00 price target (up previously from $88.00) on shares of Waste Connections in a report on Thursday, April 25th. CIBC reiterated a market perform rating on shares of Waste Connections in a report on Thursday, July 18th. TD Securities boosted their price objective on shares of Waste Connections from $88.00 to $94.00 and gave the stock a hold rating in a research note on Friday, April 26th. BMO Capital Markets boosted their price objective on shares of Waste Connections to $106.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, Raymond James boosted their price objective on shares of Waste Connections from $105.00 to $106.00 and gave the stock a strong-buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $96.27.
Shares of NYSE WCN opened at $90.05 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.92 and a beta of 0.20. The company has a 50 day moving average price of $95.19. Waste Connections has a 52-week low of $70.28 and a 52-week high of $97.93.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. Waste Connections’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Equities research analysts anticipate that Waste Connections will post 2.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 12th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, August 9th. Waste Connections’s dividend payout ratio (DPR) is 25.40%.
A number of large investors have recently modified their holdings of WCN. Dimensional Fund Advisors LP boosted its holdings in shares of Waste Connections by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 142,150 shares of the business services provider’s stock valued at $10,554,000 after buying an additional 3,311 shares during the last quarter. Geode Capital Management LLC raised its stake in Waste Connections by 30.0% in the 4th quarter. Geode Capital Management LLC now owns 69,530 shares of the business services provider’s stock valued at $5,027,000 after acquiring an additional 16,043 shares during the period. MML Investors Services LLC bought a new stake in Waste Connections in the 4th quarter valued at $363,000. Jane Street Group LLC raised its stake in Waste Connections by 225.1% in the 4th quarter. Jane Street Group LLC now owns 8,804 shares of the business services provider’s stock valued at $654,000 after acquiring an additional 6,096 shares during the period. Finally, First Allied Advisory Services Inc. raised its stake in Waste Connections by 8.3% in the 4th quarter. First Allied Advisory Services Inc. now owns 4,514 shares of the business services provider’s stock valued at $333,000 after acquiring an additional 346 shares during the period. 83.25% of the stock is owned by institutional investors.
About Waste Connections
Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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