Waste Connections Inc (NYSE:WCN) Receives $108.50 Consensus PT from Analysts
Waste Connections Inc (NYSE:WCN) has received a consensus rating of “Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $108.50.
A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Waste Connections from $104.00 to $106.00 in a research report on Friday, July 10th. Raymond James raised their price objective on Waste Connections from $114.00 to $116.00 and gave the company a “strong-buy” rating in a research report on Monday, August 10th. KeyCorp lifted their target price on Waste Connections from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Oppenheimer lifted their target price on Waste Connections from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Jefferies Financial Group lifted their target price on Waste Connections from $106.00 to $118.00 and gave the stock a “buy” rating in a report on Monday, August 10th.
In related news, VP James Little sold 5,000 shares of Waste Connections stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $101.95, for a total transaction of $509,750.00. Following the transaction, the vice president now directly owns 22,014 shares in the company, valued at $2,244,327.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ronald J. Mittelstaedt sold 48,814 shares of Waste Connections stock in a transaction on Friday, August 14th. The shares were sold at an average price of $100.19, for a total value of $4,890,674.66. Following the transaction, the chairman now owns 142,811 shares in the company, valued at $14,308,234.09. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
WCN stock opened at $101.40 on Friday. Waste Connections has a twelve month low of $70.87 and a twelve month high of $105.49. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. The firm has a market cap of $26.65 billion, a PE ratio of 130.00, a price-to-earnings-growth ratio of 4.87 and a beta of 0.47. The business has a 50 day moving average of $100.45 and a 200 day moving average of $92.87.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Waste Connections had a return on equity of 10.44% and a net margin of 3.83%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts expect that Waste Connections will post 2.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Monday, August 3rd. Waste Connections’s payout ratio is currently 27.21%.
Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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