Waste Connections, Inc. (NYSE:WCN) – Equities researchers at KeyCorp increased their FY2017 earnings per share estimates for Waste Connections in a research report issued on Thursday. KeyCorp analyst J. Box now anticipates that the business services provider will post earnings of $2.14 per share for the year, up from their prior estimate of $2.13. KeyCorp has a “Buy” rating and a $78.00 price objective on the stock. KeyCorp also issued estimates for Waste Connections’ Q4 2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.51 EPS and Q4 2018 earnings at $0.55 EPS.
WCN has been the topic of a number of other reports. Royal Bank Of Canada raised their target price on shares of Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Investment Research lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. TD Securities raised their target price on shares of Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, Credit Suisse Group set a $75.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.61.
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Shares of Waste Connections (NYSE WCN) opened at 71.08 on Monday. The company has a market capitalization of $18.72 billion, a PE ratio of 60.44 and a beta of 0.23. Waste Connections has a 52 week low of $48.78 and a 52 week high of $74.20. The firm’s 50-day moving average price is $70.00 and its 200 day moving average price is $65.38.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. 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%.
Waste Connections declared that its board has approved a stock buyback program on Wednesday, August 2nd that allows the company to repurchase 13,180,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Edward E. Guillet sold 11,500 shares of Waste Connections stock in a transaction that occurred 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 is available at the SEC website. 0.68% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Waste Connections by 55.9% in the 2nd 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in Waste Connections by 59.4% in the 2nd 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 during the last quarter. Royal Bank of Canada increased its holdings in Waste Connections by 59.9% in the 2nd 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 during the last quarter. Wells Fargo & Company MN increased its holdings in Waste Connections by 36.9% in the 2nd 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 during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in Waste Connections by 8.3% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.
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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