Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Waste Connections (NYSE:WCN) Stock Price
Media coverage about Waste Connections (NYSE:WCN) has been trending somewhat positive this week, Accern reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Waste Connections earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave headlines about the business services provider an impact score of 47.0536002297386 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Delving into Shares of Waste Connections, Inc. (NYSE:WCN) and SBA Communications Corporation (NASDAQ:SBAC … – FLBC News (flbcnews.com)
- Waste Connections, Inc. breached its 50 day moving average in a Bearish Manner : WCN-US : August 10, 2017 (finance.yahoo.com)
- Waste Connections, Inc. (WCN) – Barclays Maintains Rating And Updates Price Target – Modern Readers (modernreaders.com)
- ETFs with exposure to Waste Connections, Inc. : August 8, 2017 (finance.yahoo.com)
- Investor Watch: Checking on Shares of Waste Connections, Inc. (NYSE:WCN) – Jonesboro Recorder (jonesbororecorder.com)
Waste Connections (WCN) traded down 1.10% during trading on Thursday, hitting $63.61. 596,119 shares of the company traded hands. Waste Connections has a 52 week low of $47.81 and a 52 week high of $67.14. The company’s 50 day moving average is $64.76 and its 200-day moving average is $60.61. The stock has a market capitalization of $16.76 billion, a PE ratio of 54.09 and a beta of 0.23.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Waste Connections had a net margin of 10.54% and a return on equity of 8.67%. Waste Connections’s revenue was up 61.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Analysts predict that Waste Connections will post $2.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, August 4th. Waste Connections’s payout ratio is 32.11%.
Waste Connections announced that its board has initiated a share buyback plan on Wednesday, August 2nd that allows the company to buyback 13,180,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
WCN has been the topic of several recent analyst reports. TD Securities increased their target price on shares of Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Barclays PLC reiterated a “buy” rating on shares of Waste Connections in a research note on Friday, April 28th. Zacks Investment Research cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Royal Bank Of Canada set a $102.00 target price on shares of Waste Connections and gave the stock an “outperform” rating in a research note on Monday, June 19th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $75.00 target price on shares of Waste Connections in a research note on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $70.47.
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In related news, CFO Worthing Jackman sold 30,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $65.00, for a total transaction of $1,950,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward E. Guillet sold 11,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total transaction of $750,605.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,900 shares of company stock worth $6,871,801. 0.68% of the stock is owned by insiders.
About Waste Connections
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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