Atb Cap Markets Brokers Lower Earnings Estimates for Waste Connections, Inc. (TSE:WCN)

Waste Connections, Inc. (TSE:WCN) – Atb Cap Markets reduced their Q2 2024 EPS estimates for Waste Connections in a research report issued to clients and investors on Thursday, April 25th. Atb Cap Markets analyst C. Murray now anticipates that the company will earn $1.45 per share for the quarter, down from their previous estimate of $1.59. Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $8.94 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.66 EPS, FY2024 earnings at $6.21 EPS, Q1 2025 earnings at $1.45 EPS, Q2 2025 earnings at $1.71 EPS, Q3 2025 earnings at $1.89 EPS and FY2025 earnings at $6.96 EPS.

Several other research firms also recently weighed in on WCN. ATB Capital raised their target price on shares of Waste Connections from C$235.00 to C$240.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of Waste Connections from C$169.00 to C$182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$193.10.

Waste Connections Stock Down 0.8 %

Waste Connections stock opened at C$223.20 on Monday. The firm has a market capitalization of C$57.59 billion, a price-to-earnings ratio of 55.38, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The company has a debt-to-equity ratio of 91.42, a quick ratio of 0.74 and a current ratio of 0.68. Waste Connections has a fifty-two week low of C$174.74 and a fifty-two week high of C$234.79. The stock’s fifty day moving average is C$228.47 and its two-hundred day moving average is C$206.93.

Waste Connections (TSE:WCN) last released its quarterly earnings results on Wednesday, April 24th. The company reported C$1.40 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.38 by C$0.02. The business had revenue of C$2.79 billion for the quarter, compared to analysts’ expectations of C$2.78 billion. Waste Connections had a return on equity of 10.30% and a net margin of 9.51%.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be paid a $0.385 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.38. The ex-dividend date is Tuesday, May 7th. This represents a $1.54 annualized dividend and a yield of 0.69%. Waste Connections’s payout ratio is presently 38.21%.

Insider Buying and Selling at Waste Connections

In related news, Senior Officer Robert Michael Cloninger sold 3,746 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$170.21, for a total transaction of C$637,613.03. In other Waste Connections news, Senior Officer Robert Michael Cloninger sold 3,746 shares of Waste Connections stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$170.21, for a total value of C$637,613.03. Also, Director Edward E. Guillet sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$168.79, for a total transaction of C$337,589.80. In the last ninety days, insiders have sold 18,026 shares of company stock worth $3,043,157. Corporate insiders own 0.28% of the company’s stock.

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.