Waste Connections Inc (WCN) Given Average Recommendation of “Buy” by Analysts
Waste Connections Inc (NYSE:WCN) has received an average rating of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $77.87.
A number of analysts recently weighed in on WCN shares. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday, October 5th. Stifel Nicolaus boosted their target price on Waste Connections from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. KeyCorp restated a “buy” rating and issued a $78.00 target price on shares of Waste Connections in a research report on Friday, October 27th. TD Securities boosted their target price on Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, BMO Capital Markets started coverage on Waste Connections in a research report on Monday, December 11th. They issued an “outperform” rating and a $79.00 target price for the company.
In other Waste Connections news, COO Darrell W. Chambliss sold 5,625 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the transaction, the chief operating officer now directly owns 101,292 shares of the company’s stock, valued at approximately $7,190,719.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Davis sold 700 shares of Waste Connections stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Waste Connections by 55.9% during the second quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock valued at $1,449,523,000 after buying an additional 8,068,453 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Waste Connections by 59.4% during the second quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock valued at $757,414,000 after buying an additional 4,380,232 shares during the period. Royal Bank of Canada increased its stake in shares of Waste Connections by 59.9% during the second quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock valued at $647,028,000 after buying an additional 3,762,212 shares during the period. Wells Fargo & Company MN increased its stake in shares of Waste Connections by 36.9% during the second quarter. Wells Fargo & Company MN now owns 7,286,764 shares of the business services provider’s stock valued at $469,413,000 after buying an additional 1,965,851 shares during the period. Finally, Maverick Capital Ltd. increased its stake in shares of Waste Connections by 8.3% during the second quarter. Maverick Capital Ltd. now owns 5,537,682 shares of the business services provider’s stock valued at $356,737,000 after buying an additional 426,642 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Connections (NYSE:WCN) traded up $0.87 on Monday, hitting $70.40. The stock had a trading volume of 1,035,400 shares, compared to its average volume of 794,735. The company has a market cap of $18,560.33, a P/E ratio of 33.58, a PEG ratio of 4.19 and a beta of 0.17. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. Waste Connections has a 12-month low of $51.36 and a 12-month high of $74.20.
Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. Waste Connections’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. equities research analysts expect that Waste Connections will post 2.12 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were paid a $0.14 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, November 7th. Waste Connections’s payout ratio is 42.42%.
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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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