Waste Connections (NYSE:WCN) had its price target raised by Raymond James from $106.00 to $114.00 in a research report report published on Wednesday, AnalystRatings.com reports. The firm currently has a strong-buy rating on the business services provider’s stock.
A number of other brokerages have also recently weighed in on WCN. Royal Bank of Canada upped their price objective on Waste Connections from $98.00 to $106.00 and gave the stock an outperform rating in a research note on Friday, May 8th. Deutsche Bank increased 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. KeyCorp raised their price target on shares of Waste Connections from $105.00 to $115.00 and gave the company an overweight rating in a report on Monday, July 20th. BMO Capital Markets boosted their price objective on shares of Waste Connections from $104.00 to $106.00 in a research note on Friday, July 10th. Finally, Oppenheimer raised their target price on shares of Waste Connections from $98.00 to $100.00 and gave the company an outperform rating in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $107.93.
NYSE:WCN opened at $102.37 on Wednesday. The firm has a 50-day simple moving average of $95.00 and a 200-day simple moving average of $92.63. Waste Connections has a one year low of $70.87 and a one year high of $105.17. The firm has a market cap of $26.91 billion, a P/E ratio of 46.53, a P/E/G ratio of 4.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.98 and a current ratio of 1.98.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Waste Connections had a net margin of 10.63% and a return on equity of 10.71%. Waste Connections’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, research analysts predict that Waste Connections will post 2.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $0.74 dividend on an annualized basis and a yield of 0.72%. Waste Connections’s dividend payout ratio (DPR) is 27.21%.
In other news, CEO Worthing Jackman sold 18,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 113,239 shares of the company’s stock, valued at $10,447,430.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in WCN. Norges Bank purchased a new position in shares of Waste Connections during the fourth quarter worth $474,668,000. Invesco Ltd. lifted its holdings in shares of Waste Connections by 684.3% in the 1st quarter. Invesco Ltd. now owns 2,662,045 shares of the business services provider’s stock valued at $206,308,000 after buying an additional 2,322,609 shares during the period. Franklin Resources Inc. boosted its stake in shares of Waste Connections by 1,136.2% in the first quarter. Franklin Resources Inc. now owns 697,393 shares of the business services provider’s stock worth $53,961,000 after buying an additional 640,977 shares during the last quarter. AGF Investments Inc. grew its holdings in Waste Connections by 479.0% during the first quarter. AGF Investments Inc. now owns 692,004 shares of the business services provider’s stock worth $53,692,000 after acquiring an additional 572,483 shares during the period. Finally, Pictet Asset Management Ltd. raised its position in Waste Connections by 17.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,598,082 shares of the business services provider’s stock valued at $276,051,000 after acquiring an additional 530,277 shares in the last quarter. Institutional investors and hedge funds own 80.61% 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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