Progressive Waste Solutions Ltd. (NYSE:WCN) – Research analysts at First Analysis lowered their Q3 2016 EPS estimates for Progressive Waste Solutions in a report released on Monday. First Analysis analyst now expects that the brokerage will post earnings of $0.72 per share for the quarter, down from their previous estimate of $0.74. First Analysis also issued estimates for Progressive Waste Solutions’ Q4 2016 earnings at $0.62 EPS, FY2016 earnings at $2.45 EPS and FY2017 earnings at $2.84 EPS.

Several other analysts have also commented on WCN. Zacks Investment Research raised shares of Progressive Waste Solutions from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Wednesday, June 29th. TheStreet raised shares of Progressive Waste Solutions from a “hold” rating to a “buy” rating in a research report on Friday, July 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Progressive Waste Solutions in a research report on Friday, July 15th. Imperial Capital lifted their price objective on shares of Progressive Waste Solutions from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective (up previously from $77.00) on shares of Progressive Waste Solutions in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.18.

Earnings History and Estimates for Progressive Waste Solutions (NYSE:WCN)

Progressive Waste Solutions (NYSE:WCN) opened at 74.55 on Tuesday. Progressive Waste Solutions has a 52 week low of $50.64 and a 52 week high of $79.72. The company has a 50-day moving average of $75.12 and a 200 day moving average of $72.11. The company’s market cap is $13.02 billion.

Progressive Waste Solutions (NYSE:WCN) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.12. The business earned $727.60 million during the quarter, compared to the consensus estimate of $713.58 million. Progressive Waste Solutions had a net margin of 4.33% and a return on equity of 8.84%. The firm’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS.

In other news, Director William J. Razzouk sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $78.69, for a total transaction of $346,236.00. Following the completion of the transaction, the director now directly owns 12,344 shares of the company’s stock, valued at approximately $971,349.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Darrell W. Chambliss sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $77.42, for a total value of $154,840.00. Following the transaction, the chief operating officer now directly owns 147,068 shares of the company’s stock, valued at $11,386,004.56. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Progressive Waste Solutions by 50.6% in the second quarter. Vanguard Group Inc. now owns 13,187,883 shares of the company’s stock valued at $950,188,000 after buying an additional 4,433,316 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Progressive Waste Solutions by 21.2% in the first quarter. Wellington Management Group LLP now owns 5,336,414 shares of the company’s stock valued at $344,679,000 after buying an additional 931,828 shares during the last quarter. State Street Corp increased its position in shares of Progressive Waste Solutions by 21.5% in the first quarter. State Street Corp now owns 3,704,328 shares of the company’s stock valued at $239,269,000 after buying an additional 654,877 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Progressive Waste Solutions by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,635,789 shares of the company’s stock valued at $234,836,000 after buying an additional 102,761 shares during the last quarter. Finally, FMR LLC increased its position in shares of Progressive Waste Solutions by 5,800.8% in the second quarter. FMR LLC now owns 3,564,980 shares of the company’s stock valued at $257,561,000 after buying an additional 3,504,565 shares during the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Progressive Waste Solutions Company Profile

Waste Connections, Inc is an integrated municipal solid waste (MSW) services company. The Company provides solid waste collection, transfer, disposal and recycling services in the United States. The Company is a provider of non-hazardous exploration and production (E&P), waste treatment, recovery and disposal services in various areas of the United States.

5 Day Chart for NYSE:WCN

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