Wall Street analysts forecast that Waste Connections, Inc. (NYSE:WCN) will announce $1.13 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Waste Connections’ earnings, with the lowest sales estimate coming in at $1.12 billion and the highest estimate coming in at $1.13 billion. Waste Connections posted sales of $1.05 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Waste Connections will report full-year sales of $1.13 billion for the current financial year, with estimates ranging from $4.59 billion to $4.60 billion. For the next fiscal year, analysts forecast that the firm will post sales of $4.83 billion per share, with estimates ranging from $4.77 billion to $4.88 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Waste Connections.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share.
Several equities research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. upped their price objective on shares of Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Waste Connections in a report on Friday, October 27th. Credit Suisse Group set a $82.00 price target on shares of Waste Connections and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. TD Securities boosted their price target on shares of Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $77.87.
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Waste Connections (NYSE:WCN) traded down $0.13 during mid-day trading on Thursday, reaching $69.62. 933,014 shares of the company traded hands, compared to its average volume of 742,680. The firm has a market capitalization of $18,354.69, a P/E ratio of 33.20, a P/E/G ratio of 4.14 and a beta of 0.18. Waste Connections has a 1-year low of $48.78 and a 1-year high of $74.20. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 7th. This is an increase from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s payout ratio is presently 36.36%.
Waste Connections announced that its board has initiated a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback 13,180,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Waste Connections news, Director Robert Davis sold 700 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $71.72, for a total transaction of $50,204.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Darrell W. Chambliss sold 5,625 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the sale, the chief operating officer now owns 101,292 shares in the company, valued at approximately $7,190,719.08. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WCN. Thompson Davis & CO. Inc. raised its holdings in Waste Connections by 55.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock worth $101,000 after buying an additional 559 shares during the period. Independent Portfolio Consultants Inc. raised its holdings in Waste Connections by 10.1% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock worth $118,000 after buying an additional 168 shares during the period. Fieldpoint Private Securities LLC raised its holdings in Waste Connections by 50.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock worth $136,000 after buying an additional 702 shares during the period. US Bancorp DE raised its holdings in Waste Connections by 14.3% during the 2nd quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock worth $140,000 after buying an additional 271 shares during the period. Finally, Creative Planning raised its holdings in Waste Connections by 223.5% during the 2nd quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after buying an additional 1,656 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.
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.
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