Waste Connections Inc (WCN) Receives Average Rating of “Buy” from Analysts

Shares of Waste Connections Inc (NYSE:WCN) have received a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $85.50.

A number of equities analysts have weighed in on WCN shares. TD Securities boosted their price objective on 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 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 raised 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. BMO Capital Markets boosted their price objective on Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, UBS Group set a $90.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, October 31st.

NYSE WCN traded down $0.04 on Thursday, reaching $76.28. 17,000 shares of the company were exchanged, compared to its average volume of 904,956. The firm has a market capitalization of $19.84 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.25. Waste Connections has a fifty-two week low of $65.06 and a fifty-two week high of $81.36.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.01. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Waste Connections had a return on equity of 10.07% and a net margin of 15.14%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts forecast that Waste Connections will post 2.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, November 9th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. Waste Connections’s dividend payout ratio is 25.93%.

In other news, VP David Eddie sold 20,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $80.06, for a total value of $1,601,200.00. Following the transaction, the vice president now owns 36,320 shares of the company’s stock, valued at approximately $2,907,779.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Darrell W. Chambliss sold 6,485 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,385 shares of company stock worth $3,063,670. Corporate insiders own 0.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in WCN. Zions Bancorporation purchased a new position in Waste Connections in the 2nd quarter valued at approximately $178,000. Jaffetilchin Investment Partners LLC bought a new stake 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. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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