Waste Connections Inc (WCN) Expected to Post Earnings of $0.61 Per Share

Analysts predict that Waste Connections Inc (NYSE:WCN) will announce earnings per share (EPS) of $0.61 for the current quarter, according to Zacks. Four analysts have made estimates for Waste Connections’ earnings. The lowest EPS estimate is $0.59 and the highest is $0.66. Waste Connections posted earnings per share of $0.52 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that Waste Connections will report full-year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.48 to $2.56. For the next fiscal year, analysts expect that the company will report earnings of $2.85 per share, with EPS estimates ranging from $2.72 to $3.09. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Waste Connections.

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

WCN has been the subject of a number of research analyst reports. Citigroup raised their price objective on shares of Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Royal Bank of Canada raised their price objective on shares of Waste Connections from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, October 31st. UBS Group set a $90.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, BMO Capital Markets lifted their target price on shares of Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $84.80.

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

Several hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in shares of Waste Connections by 21.5% in the third quarter. Crossmark Global Holdings Inc. now owns 49,312 shares of the business services provider’s stock valued at $3,934,000 after acquiring an additional 8,723 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Waste Connections by 6.4% in the third quarter. Eagle Asset Management Inc. now owns 2,219,359 shares of the business services provider’s stock valued at $177,038,000 after acquiring an additional 132,980 shares during the period. Jennison Associates LLC bought a new position in shares of Waste Connections in the third quarter valued at approximately $5,667,000. Redpoint Investment Management Pty Ltd boosted its position in shares of Waste Connections by 22.2% in the third quarter. Redpoint Investment Management Pty Ltd now owns 8,106 shares of the business services provider’s stock valued at $647,000 after acquiring an additional 1,473 shares during the period. Finally, Brasada Capital Management LP boosted its position in shares of Waste Connections by 14.7% in the third quarter. Brasada Capital Management LP now owns 117,935 shares of the business services provider’s stock valued at $9,408,000 after acquiring an additional 15,075 shares during the period. Institutional investors own 81.54% of the company’s stock.

NYSE WCN opened at $76.32 on Tuesday. Waste Connections has a 52-week low of $65.06 and a 52-week high of $81.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $19.84 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.56 and a beta of 0.11.

The firm also recently announced 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 is an increase from Waste Connections’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.84%. Waste Connections’s dividend payout ratio (DPR) is presently 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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