Waste Connections, Inc. (NYSE:WCN) – Investment analysts at First Analysis reduced their FY2018 earnings per share estimates for shares of Waste Connections in a report released on Sunday. First Analysis analyst now expects that the business services provider will post earnings per share of $2.17 for the year, down from their prior estimate of $2.22.
Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $0.72 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Equities Analysts Offer Predictions for Waste Connections, Inc.’s FY2018 Earnings (WCN)” was published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://www.com-unik.info/2017/11/02/equities-analysts-offer-predictions-for-waste-connections-inc-s-fy2018-earnings-wcn.html.
A number of other equities analysts have also weighed in on the company. Credit Suisse Group set a $82.00 target price on Waste Connections and gave the stock an “outperform” rating in a research report on Tuesday. Oppenheimer Holdings, Inc. upped their price target on Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Royal Bank Of Canada upped their price target on Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. TD Securities upped their price target on Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, KeyCorp reiterated a “buy” rating and set a $78.00 price target on shares of Waste Connections in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $77.87.
Waste Connections announced that its board has initiated a stock buyback plan on Wednesday, August 2nd that authorizes the company to buyback 13,180,000 shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s payout ratio is presently 36.36%.
In related news, Director Robert Davis sold 700 shares of Waste Connections stock in a transaction on Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of WCN. Vanguard Group Inc. grew its holdings in shares of 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 worth $1,449,523,000 after acquiring an additional 8,068,453 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of 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 worth $757,414,000 after acquiring an additional 4,380,232 shares during the period. Royal Bank of Canada grew its holdings in shares of 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 worth $647,028,000 after acquiring an additional 3,762,212 shares during the period. CIBC World Markets Inc. bought a new stake in shares of Waste Connections in the second quarter worth $207,877,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Waste Connections by 16,829.1% in the second quarter. Janus Henderson Group PLC now owns 2,138,483 shares of the business services provider’s stock worth $137,761,000 after acquiring an additional 2,125,851 shares during the period. 82.59% of the stock is owned by institutional investors.
About Waste Connections
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.
What are top analysts saying about Waste Connections Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Waste Connections Inc. and related companies.