Waste Connections (NYSE:WCN) Releases Earnings Results

Waste Connections (NYSE:WCN) released its quarterly earnings data on Wednesday. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06, FiscalAI reports. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%.

Waste Connections Trading Down 0.6%

NYSE WCN traded down $0.97 during trading on Wednesday, hitting $168.51. The company had a trading volume of 1,910,787 shares, compared to its average volume of 1,560,253. The company’s fifty day moving average is $160.88 and its 200-day moving average is $161.40. Waste Connections has a one year low of $146.89 and a one year high of $179.74. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market cap of $42.29 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49.

Insider Transactions at Waste Connections

In related news, SVP Philip Rivard sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the transaction, the senior vice president owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Cloninger sold 2,811 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WCN shares. Canadian Imperial Bank of Commerce set a $184.00 target price on shares of Waste Connections and gave the stock an “outperformer” rating in a report on Thursday, October 8th. Scotiabank set a $193.00 price target on Waste Connections in a report on Thursday, October 15th. TD Cowen reiterated a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Citigroup cut their price objective on Waste Connections from $182.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. reduced their target price on Waste Connections from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.61.

About Waste Connections

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.