Waste Connections, Inc. (NYSE:WCN) – Analysts at Gabelli raised their FY2017 earnings per share (EPS) estimates for shares of Waste Connections in a research report issued on Friday. Gabelli analyst T. Bancroft now forecasts that the business services provider will earn $2.10 per share for the year, up from their prior estimate of $2.05. Gabelli also issued estimates for Waste Connections’ FY2018 earnings at $2.45 EPS, FY2019 earnings at $2.75 EPS, FY2020 earnings at $3.05 EPS and FY2021 earnings at $3.40 EPS.
A number of other equities analysts have also commented on WCN. BidaskClub lowered shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC set a $70.00 price target on shares of Waste Connections and gave the stock a “buy” rating in a report on Wednesday, July 26th. Royal Bank Of Canada lifted their price target on shares of Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. TD Securities lifted their price target on shares of Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. lifted their price target on shares of Waste Connections from $74.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $75.61.
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Shares of Waste Connections (WCN) opened at 71.87 on Monday. The company has a market cap of $18.93 billion, a PE ratio of 61.11 and a beta of 0.23. Waste Connections has a 12 month low of $48.78 and a 12 month high of $74.20. The firm’s 50 day moving average is $69.89 and its 200 day moving average is $65.20.
Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.
Waste Connections announced that its board has authorized a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase 13,180,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Tuesday, November 7th. This is an increase from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s dividend payout ratio (DPR) is currently 36.36%.
In other Waste Connections news, Director Edward E. Guillet sold 11,500 shares of Waste Connections stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total value of $750,605.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Darrell W. Chambliss sold 25,000 shares of Waste Connections stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $65.05, for a total transaction of $1,626,250.00. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Waste Connections by 55.9% in the second quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock valued at $1,449,523,000 after purchasing an additional 8,068,453 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Waste Connections by 59.4% in the second quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock valued at $757,414,000 after purchasing an additional 4,380,232 shares in the last quarter. Royal Bank of Canada increased its stake in Waste Connections by 59.9% in the second quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock valued at $647,028,000 after purchasing an additional 3,762,212 shares in the last quarter. Wells Fargo & Company MN increased its stake in Waste Connections by 36.9% in the second quarter. Wells Fargo & Company MN now owns 7,286,764 shares of the business services provider’s stock valued at $469,413,000 after purchasing an additional 1,965,851 shares in the last quarter. Finally, Maverick Capital Ltd. increased its stake in Waste Connections by 8.3% in the second quarter. Maverick Capital Ltd. now owns 5,537,682 shares of the business services provider’s stock valued at $356,737,000 after purchasing an additional 426,642 shares in the last quarter. 82.63% of the stock is owned by hedge funds and other institutional investors.
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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