Waste Connections (NYSE:WCN – Get Free Report) issued its earnings results on Wednesday. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05, Briefing.com reports. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Waste Connections updated its FY 2024 guidance to EPS.
Waste Connections Stock Performance
Shares of Waste Connections stock opened at $178.60 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. Waste Connections has a one year low of $126.12 and a one year high of $187.54. The business has a 50-day simple moving average of $182.16 and a 200 day simple moving average of $175.05. The firm has a market capitalization of $46.08 billion, a price-to-earnings ratio of 57.99, a PEG ratio of 2.90 and a beta of 0.72.
Waste Connections Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.315 dividend. The ex-dividend date is Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.71%. Waste Connections’s payout ratio is 37.01%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on WCN
Insider Transactions at Waste Connections
In related news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total transaction of $180,150.00. Following the transaction, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the transaction, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,600 shares of company stock valued at $3,842,550 over the last three months. Corporate insiders own 0.31% of the company’s stock.
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.
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