KeyCorp Analysts Cut Earnings Estimates for Waste Connections Inc (WCN)
Waste Connections Inc (TSE:WCN) – Equities research analysts at KeyCorp lowered their Q3 2017 earnings estimates for Waste Connections in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Box now expects that the company will earn $0.71 per share for the quarter, down from their prior forecast of $0.77. KeyCorp also issued estimates for Waste Connections’ Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.66 EPS, Q1 2018 earnings at $0.66 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.79 EPS, Q4 2018 earnings at $0.74 EPS, FY2018 earnings at $2.95 EPS and FY2019 earnings at $3.26 EPS.
A number of other brokerages also recently commented on WCN. Raymond James Financial, Inc. increased their price objective on Waste Connections from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities increased their price objective on Waste Connections to C$91.00 and gave the company a “hold” rating in a research report on Thursday. Royal Bank Of Canada increased their price objective on Waste Connections to C$95.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays PLC cut their price objective on Waste Connections from C$96.00 to C$90.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Credit Suisse Group increased their price objective on Waste Connections to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, June 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Waste Connections currently has an average rating of “Buy” and an average target price of C$87.00.
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Waste Connections (TSE:WCN) traded down 1.21% during mid-day trading on Friday, hitting $81.55. The stock had a trading volume of 31,928 shares. The stock has a market cap of $21.47 billion and a price-to-earnings ratio of 94.61. The company has a 50-day moving average of $84.05 and a 200-day moving average of $79.27. Waste Connections has a 12-month low of $63.11 and a 12-month high of $88.94.
In related news, Director Susan Lee purchased 600 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of C$124.78 per share, with a total value of C$74,868.00. Also, insider Patrick J. Shea sold 2,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of C$96.91, for a total transaction of C$193,820.00. Over the last three months, insiders have sold 20,400 shares of company stock worth $1,962,636.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, August 4th.
Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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