Progressive Waste Solutions Ltd. (WCN) Reaches New 1-Year 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 stock traded as high as $79.72 and last traded at $78.20, with a volume of 477,613 shares changing hands. The stock had previously closed at $77.80.
Several brokerages recently issued reports on WCN. Royal Bank Of Canada increased their price target on Progressive Waste Solutions from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, August 5th. CIBC began coverage on Progressive Waste Solutions in a report 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 report on Friday, August 5th. Imperial Capital raised their target price on Progressive Waste Solutions from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, Wedbush restated a “buy” rating on shares of Progressive Waste Solutions in a research note on Saturday, June 4th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Progressive Waste Solutions presently has a consensus rating of “Buy” and an average price target of $73.24.
The firm’s market cap is $13.71 billion. The firm’s 50 day moving average price is $76.20 and its 200-day moving average price is $69.53.
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 forecast 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 0.74%.
In related news, VP Patrick James Shea sold 5,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $73.05, for a total value of $365,250.00. Following the sale, the vice president now owns 44,219 shares of the company’s stock, valued at $3,230,197.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief operating officer now directly owns 147,068 shares in the company, valued at approximately $11,386,004.56. 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.