Waste Connections, Inc. (NYSE:WCN) Expected to Post Quarterly Sales of $1.58 Billion

Equities analysts expect that Waste Connections, Inc. (NYSE:WCN) will report sales of $1.58 billion for the current quarter, according to Zacks. Seven analysts have issued estimates for Waste Connections’ earnings, with the highest sales estimate coming in at $1.60 billion and the lowest estimate coming in at $1.54 billion. Waste Connections posted sales of $1.40 billion in the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The company is scheduled to report its next earnings results on Wednesday, February 16th.

On average, analysts expect that Waste Connections will report full-year sales of $6.11 billion for the current financial year, with estimates ranging from $6.11 billion to $6.12 billion. For the next year, analysts anticipate that the firm will report sales of $6.70 billion, with estimates ranging from $6.50 billion to $6.82 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Waste Connections.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, October 27th. The business services provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.04. Waste Connections had a net margin of 9.83% and a return on equity of 11.73%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm posted $0.72 EPS. Waste Connections’s revenue for the quarter was up 14.9% on a year-over-year basis.

WCN has been the topic of a number of recent analyst reports. KeyCorp raised their price target on shares of Waste Connections from $136.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Waste Connections from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, October 29th. Royal Bank of Canada raised their price target on shares of Waste Connections from $139.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, October 29th. Raymond James raised their price target on shares of Waste Connections from $144.00 to $152.00 and gave the company a “strong-buy” rating in a report on Friday, October 29th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Waste Connections in a report on Sunday, October 31st. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Buy” and an average target price of $138.88.

WCN stock traded up $0.28 during trading on Thursday, hitting $137.28. 357,536 shares of the stock traded hands, compared to its average volume of 816,731. Waste Connections has a 1 year low of $97.02 and a 1 year high of $138.82. The firm’s 50 day moving average is $132.02 and its two-hundred day moving average is $126.70. The stock has a market cap of $35.77 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 3.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 23rd. Stockholders of record on Tuesday, November 9th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, November 8th. This is a boost from Waste Connections’s previous quarterly dividend of $0.21. Waste Connections’s dividend payout ratio is 41.26%.

In other Waste Connections news, SVP Jason Craft sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $138.21, for a total transaction of $172,762.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James Little sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $137.76, for a total transaction of $344,400.00. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCN. First Trust Advisors LP purchased a new position in shares of Waste Connections during the first quarter valued at about $482,000. AQR Capital Management LLC grew its position in shares of Waste Connections by 121.1% during the first quarter. AQR Capital Management LLC now owns 69,164 shares of the business services provider’s stock valued at $7,429,000 after purchasing an additional 37,880 shares in the last quarter. Ameritas Investment Company LLC purchased a new position in shares of Waste Connections during the first quarter valued at about $51,000. Maverick Capital Ltd. purchased a new position in shares of Waste Connections during the first quarter valued at about $333,000. Finally, Verition Fund Management LLC grew its position in shares of Waste Connections by 85.1% during the first quarter. Verition Fund Management LLC now owns 7,852 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 3,610 shares in the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections, Inc engages in the provision of solid waste services. Its services include waste collection, transfer, disposal, treatment and recycling. It also provides non-hazardous exploration and production, waste treatment, recovery and disposal services. The company was founded by Ronald J.

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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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