Waste Connections (NYSE:WCN) Trading Up 0% After Better-Than-Expected Earnings

Waste Connections, Inc. (NYSE:WCN) was up 0% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $166.85 and last traded at $166.18. Approximately 135,824 shares changed hands during trading, a decline of 85% from the average daily volume of 889,502 shares. The stock had previously closed at $166.17.

The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a return on equity of 14.76% and a net margin of 9.70%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business earned $0.89 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, May 7th. Waste Connections’s dividend payout ratio (DPR) is currently 37.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WCN shares. CIBC raised their target price on Waste Connections from $175.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Citigroup lifted their price objective on Waste Connections from $136.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Stifel Nicolaus lifted their price objective on Waste Connections from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Royal Bank of Canada assumed coverage on Waste Connections in a report on Monday, April 8th. They set an “outperform” rating and a $196.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on Waste Connections from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.87.

Insider Buying and Selling at Waste Connections

In related news, Director Andrea E. Bertone sold 902 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds have recently made changes to their positions in WCN. Pacifica Partners Inc. bought a new stake in Waste Connections during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC raised its holdings in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after buying an additional 86 shares during the last quarter. Headinvest LLC bought a new stake in Waste Connections during the 3rd quarter valued at $36,000. Operose Advisors LLC bought a new stake in Waste Connections during the 3rd quarter valued at $40,000. Finally, Rational Advisors LLC bought a new stake in Waste Connections during the 3rd quarter valued at $41,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Down 0.9 %

The stock’s fifty day moving average is $168.31 and its 200 day moving average is $151.92. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $42.24 billion, a P/E ratio of 53.63, a price-to-earnings-growth ratio of 2.72 and a beta of 0.66.

Waste Connections Company Profile

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.