Waste Connections (NYSE:WCN) Upgraded by Atb Cap Markets to “Outperform”

Atb Cap Markets upgraded shares of Waste Connections (NYSE:WCNGet Rating) from a sector perform rating to an outperform rating in a research note released on Thursday morning, PriceTargets.com reports.

WCN has been the subject of several other research reports. Oppenheimer set a $135.00 price objective on Waste Connections in a research report on Tuesday, July 19th. Raymond James boosted their price objective on Waste Connections from $146.00 to $155.00 and gave the stock a strong-buy rating in a research report on Friday. Morgan Stanley boosted their price objective on Waste Connections from $146.00 to $158.00 and gave the stock an overweight rating in a research report on Thursday. BMO Capital Markets boosted their price objective on Waste Connections from $143.00 to $151.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on Waste Connections from $147.00 to $152.00 and gave the company an outperform rating in a report on Thursday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $147.13.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $138.33 on Thursday. Waste Connections has a fifty-two week low of $113.50 and a fifty-two week high of $145.62. The business has a 50-day moving average of $125.48 and a two-hundred day moving average of $128.63. The stock has a market capitalization of $35.57 billion, a P/E ratio of 52.40, a P/E/G ratio of 2.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.94 and a quick ratio of 1.12.

Waste Connections (NYSE:WCNGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). Waste Connections had a return on equity of 13.38% and a net margin of 10.25%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm posted $0.70 EPS. Waste Connections’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities research analysts predict that Waste Connections will post 3.71 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $0.92 annualized dividend and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio is currently 34.85%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. acquired a new stake in Waste Connections during the 4th quarter worth $28,000. Venture Visionary Partners LLC bought a new position in Waste Connections during the 2nd quarter worth about $35,000. Pacifica Partners Inc. increased its holdings in Waste Connections by 49.0% during the 1st quarter. Pacifica Partners Inc. now owns 365 shares of the business services provider’s stock worth $46,000 after purchasing an additional 120 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in Waste Connections during the 2nd quarter worth about $46,000. Finally, GHP Investment Advisors Inc. bought a new position in Waste Connections during the 1st quarter worth about $63,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

About Waste Connections

(Get Rating)

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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