Waste Connections Inc (NYSE:WCN) announced a quarterly dividend on Thursday, July 23rd, Zacks reports. Stockholders of record on Tuesday, August 4th will be paid a dividend of 0.185 per share by the business services provider on Tuesday, August 18th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, August 3rd.
Waste Connections has raised its dividend by an average of 7.6% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Waste Connections has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Waste Connections to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 26.2%.
Shares of NYSE WCN opened at $102.44 on Friday. The company has a market cap of $26.78 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 4.97 and a beta of 0.47. Waste Connections has a 12 month low of $70.87 and a 12 month high of $105.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.98. The company has a 50-day simple moving average of $95.00 and a 200-day simple moving average of $92.63.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Waste Connections had a net margin of 10.63% and a return on equity of 10.71%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, analysts anticipate that Waste Connections will post 2.39 EPS for the current year.
WCN has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Waste Connections from $104.00 to $106.00 in a report on Friday, July 10th. Raymond James raised their target price on shares of Waste Connections from $106.00 to $114.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Deutsche Bank lifted their price target on shares of Waste Connections from $96.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Royal Bank of Canada lifted their price target on shares of Waste Connections from $98.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Oppenheimer boosted their target price on shares of Waste Connections from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $107.93.
In other news, CEO Worthing Jackman sold 18,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total value of $1,660,680.00. Following the completion of the sale, the chief executive officer now directly owns 113,239 shares in the company, valued at $10,447,430.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.
Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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