Waste Connections Inc (NYSE:WCN) Announces $0.19 Quarterly Dividend

Waste Connections Inc (NYSE:WCN) declared a quarterly dividend on Thursday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.185 per share by the business services provider on Tuesday, August 18th. This represents a $0.74 annualized dividend and a yield of 0.72%. The ex-dividend date is Monday, August 3rd.

Waste Connections has raised its dividend by an average of 7.6% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Waste Connections has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Waste Connections to earn $2.85 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 26.0%.

Shares of WCN opened at $102.37 on Friday. The company’s fifty day simple moving average is $95.00 and its 200-day simple moving average is $92.63. The company has a market cap of $26.91 billion, a P/E ratio of 37.09, a P/E/G ratio of 4.99 and a beta of 0.47. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78. Waste Connections has a twelve month low of $70.87 and a twelve month high of $105.17.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Waste Connections had a net margin of 10.63% and a return on equity of 10.71%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts predict that Waste Connections will post 2.42 earnings per share for the current fiscal year.

In other news, CEO Worthing Jackman sold 18,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total value of $1,660,680.00. Following the completion of the transaction, the chief executive officer now directly owns 113,239 shares of the company’s stock, valued at approximately $10,447,430.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

WCN has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on Waste Connections from $156.00 to $146.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. AltaCorp Capital restated a “sector perform” rating on shares of Waste Connections in a report on Thursday, May 7th. BMO Capital Markets raised their price target on shares of Waste Connections from $104.00 to $106.00 in a research note on Friday, July 10th. Oppenheimer boosted their price objective on shares of Waste Connections from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Deutsche Bank raised their target price on shares of Waste Connections from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $107.93.

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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Dividend History for Waste Connections (NYSE:WCN)

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