Progressive Waste Solutions Ltd. (WCN) Hits New 12-Month High at $79.72
Shares of Progressive Waste Solutions Ltd. (NYSE:WCN) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $79.72 and last traded at $78.20, with a volume of 477,613 shares traded. The stock had previously closed at $77.80.
A number of brokerages have recently issued reports on WCN. Royal Bank Of Canada lifted their target price on Progressive Waste Solutions from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. CIBC assumed coverage on Progressive Waste Solutions in a research note on Wednesday, June 1st. They issued a “sector outperform” rating for the company. Gabelli upgraded Progressive Waste Solutions from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Imperial Capital lifted their price target on Progressive Waste Solutions from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Finally, Wedbush reiterated a “buy” rating on shares of Progressive Waste Solutions in a research note on Saturday, June 4th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Progressive Waste Solutions has an average rating of “Buy” and an average target price of $73.24.
The company has a 50 day moving average of $76.07 and a 200 day moving average of $69.47. The stock’s market cap is $13.67 billion.
Progressive Waste Solutions (NYSE:WCN) last posted its earnings results on Wednesday, August 3rd. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.12. During the same period in the previous year, the firm earned $0.50 EPS. The business earned $727.60 million during the quarter, compared to the consensus estimate of $713.58 million. The business’s revenue was up 36.9% compared to the same quarter last year. Equities analysts expect that Progressive Waste Solutions Ltd. will post $2.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Tuesday, August 2nd were paid a $0.145 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This is an increase from Progressive Waste Solutions’s previous quarterly dividend of $0.09. This represents a $0.58 dividend on an annualized basis and a yield of 0.75%.
In other Progressive Waste Solutions news, COO Darrell W. Chambliss sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $77.42, for a total transaction of $154,840.00. Following the sale, the chief operating officer now directly owns 147,068 shares of the company’s stock, valued at $11,386,004.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick James Shea sold 5,000 shares of the company’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $73.05, for a total transaction of $365,250.00. Following the sale, the vice president now directly owns 44,219 shares in the company, valued at $3,230,197.95. The disclosure for this sale can be found here.
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.
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