Atb Cap Markets Analysts Decrease Earnings Estimates for Waste Connections, Inc. (NYSE:WCN)

Waste Connections, Inc. (NYSE:WCN) – Equities research analysts at Atb Cap Markets reduced their Q2 2024 earnings per share (EPS) estimates for shares of Waste Connections in a report issued on Thursday, April 25th. Atb Cap Markets analyst C. Murray now anticipates that the business services provider will earn $1.06 per share for the quarter, down from their previous forecast of $1.18. Atb Cap Markets currently has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $4.84 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.21 EPS, FY2024 earnings at $4.53 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.38 EPS and FY2025 earnings at $5.07 EPS.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Waste Connections from $153.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Oppenheimer increased their price target on Waste Connections from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Scotiabank boosted their target price on shares of Waste Connections from $146.50 to $179.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Wells Fargo & Company increased their target price on shares of Waste Connections from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, UBS Group cut Waste Connections from a “buy” rating to a “neutral” rating and raised their price objective for the company from $170.00 to $181.00 in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and an average target price of $179.33.

Waste Connections Stock Down 1.5 %

Shares of NYSE:WCN opened at $162.17 on Monday. Waste Connections has a 52-week low of $126.12 and a 52-week high of $173.02. The company has a fifty day moving average of $168.06 and a 200-day moving average of $152.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $41.84 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 2.64 and a beta of 0.66.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, May 7th. Waste Connections’s dividend payout ratio is presently 37.01%.

Insider Transactions at Waste Connections

In related news, Director Andrea E. Bertone sold 902 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Waste Connections

Hedge funds have recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in Waste Connections by 58.5% during the third quarter. UMB Bank n.a. now owns 1,152 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 425 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Waste Connections by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 114,756 shares of the business services provider’s stock valued at $15,412,000 after purchasing an additional 366 shares in the last quarter. Carderock Capital Management Inc. lifted its position in Waste Connections by 4.3% in the 3rd quarter. Carderock Capital Management Inc. now owns 36,806 shares of the business services provider’s stock worth $4,943,000 after buying an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Waste Connections by 3.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,254 shares of the business services provider’s stock worth $3,526,000 after buying an additional 856 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in Waste Connections by 1.0% during the third quarter. Maryland State Retirement & Pension System now owns 8,771 shares of the business services provider’s stock valued at $1,178,000 after acquiring an additional 87 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.