Waste Connections Inc (WCN) Receives $79.33 Average Target Price from Brokerages

Shares of Waste Connections Inc (NYSE:WCN) have been given a consensus rating of “Buy” by the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $79.33.

A number of research firms recently commented on WCN. Zacks Investment Research downgraded Waste Connections from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. UBS initiated coverage on Waste Connections in a report on Thursday, March 15th. They set a “buy” rating and a $91.00 price target on the stock. Credit Suisse Group reiterated an “outperform” rating on shares of Waste Connections in a report on Tuesday, February 20th. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 price target on shares of Waste Connections in a report on Thursday, January 4th. Finally, Bank of America initiated coverage on Waste Connections in a report on Thursday, December 28th. They set a “buy” rating and a $80.00 price target on the stock.

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NYSE:WCN opened at $71.74 on Wednesday. Waste Connections has a 52 week low of $57.81 and a 52 week high of $74.59. The company has a market capitalization of $18,915.37, a P/E ratio of 33.16, a PEG ratio of 2.64 and a beta of 0.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 1.47.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. sell-side analysts anticipate that Waste Connections will post 2.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th were paid a $0.14 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.56 annualized dividend and a dividend yield of 0.78%. Waste Connections’s payout ratio is 25.93%.

In related news, Director Larry Sanford Hughes acquired 2,250 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $71.50 per share, for a total transaction of $160,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Eddie sold 6,071 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.06, for a total transaction of $431,405.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,571 shares of company stock worth $4,911,600. 0.68% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in WCN. Advisors Asset Management Inc. acquired a new stake in shares of Waste Connections in the third quarter worth $103,000. Cerebellum GP LLC bought a new position in Waste Connections in the fourth quarter worth $125,000. SG Americas Securities LLC bought a new position in Waste Connections in the fourth quarter worth $194,000. Timber Hill LLC bought a new position in Waste Connections in the fourth quarter worth $206,000. Finally, Advisor Partners LLC bought a new position in Waste Connections in the fourth quarter worth $216,000. Institutional investors and hedge funds own 84.21% 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.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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