Waste Connections, Inc. (NYSE:WCN) – Analysts at First Analysis lowered their Q3 2017 earnings estimates for Waste Connections in a research report issued to clients and investors on Monday. First Analysis analyst now expects that the business services provider will earn $0.57 per share for the quarter, down from their previous forecast of $0.58. First Analysis also issued estimates for Waste Connections’ Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $2.11 EPS and FY2018 earnings at $2.22 EPS.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was up 61.6% compared to the same quarter last year.
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WCN has been the topic of several other research reports. BidaskClub lowered Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Barclays PLC set a $70.00 price target on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Royal Bank of Canada lifted their target price on Waste Connections from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. Credit Suisse Group set a $75.00 target price on Waste Connections and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Monday. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $68.95.
Shares of Waste Connections (WCN) opened at 65.44 on Tuesday. Waste Connections has a 52-week low of $47.81 and a 52-week high of $67.14. The stock has a market cap of $17.25 billion, a P/E ratio of 53.64 and a beta of 0.24. The firm’s 50-day moving average price is $64.95 and its 200-day moving average price is $60.09.
A number of hedge funds and other institutional investors have recently modified their holdings of WCN. Northstar Asset Management LLC purchased a new stake in shares of Waste Connections during the first quarter valued at about $905,000. Janney Montgomery Scott LLC boosted its stake in shares of Waste Connections by 15.1% in the first quarter. Janney Montgomery Scott LLC now owns 5,067 shares of the business services provider’s stock valued at $447,000 after buying an additional 663 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Waste Connections during the first quarter valued at about $612,000. Independent Portfolio Consultants Inc. purchased a new stake in shares of Waste Connections during the first quarter valued at about $147,000. Finally, Korea Investment CORP boosted its stake in shares of Waste Connections by 479.3% in the first quarter. Korea Investment CORP now owns 7,572 shares of the business services provider’s stock valued at $668,000 after buying an additional 6,265 shares during the last quarter. 58.20% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael W. Harlan sold 3,400 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $96.49, for a total value of $328,066.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Lee purchased 1,200 shares of Waste Connections stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average cost of $92.05 per share, with a total value of $110,460.00. Following the acquisition, the director now directly owns 3,679 shares of the company’s stock, valued at approximately $338,651.95. The disclosure for this purchase can be found here. Insiders sold 54,400 shares of company stock valued at $4,300,516 in the last ninety days. Company insiders own 0.68% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, August 4th. Waste Connections’s payout ratio is 40.56%.
Waste Connections Company Profile
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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