Waste Connections Inc (NYSE:WCN) – Analysts at Oppenheimer reduced their Q4 2019 EPS estimates for Waste Connections in a note issued to investors on Wednesday, October 16th. Oppenheimer analyst N. Kaye now anticipates that the business services provider will post earnings of $0.58 per share for the quarter, down from their previous estimate of $0.59. Oppenheimer currently has a “Market Perform” rating on the stock.
A number of other research firms also recently weighed in on WCN. JPMorgan Chase & Co. began coverage on Waste Connections in a research report on Wednesday, August 7th. They set an “overweight” rating and a $98.00 target price for the company. Raymond James upped their target price on Waste Connections from $105.00 to $106.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus set a $105.00 target price on Waste Connections and gave the company a “buy” rating in a research report on Monday, September 23rd. CIBC reiterated a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. Finally, BMO Capital Markets set a $105.00 target price on Waste Connections and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $96.66.
Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS.
Several hedge funds have recently made changes to their positions in WCN. HM Payson & Co. bought a new stake in shares of Waste Connections during the 2nd quarter worth $36,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Waste Connections during the 2nd quarter worth $39,000. Commonwealth Bank of Australia increased its holdings in Waste Connections by 47.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 551 shares of the business services provider’s stock worth $51,000 after purchasing an additional 178 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Waste Connections in the 2nd quarter worth about $66,000. Finally, Signaturefd LLC increased its holdings in Waste Connections by 42.2% in the 2nd quarter. Signaturefd LLC now owns 1,214 shares of the business services provider’s stock worth $116,000 after purchasing an additional 360 shares in the last quarter. Institutional investors and hedge funds own 82.55% of the company’s stock.
In related news, Director Michael W. Harlan sold 2,038 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $91.43, for a total transaction of $186,334.34. Following the completion of the sale, the director now directly owns 17,425 shares in the company, valued at approximately $1,593,167.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Matthew Stephen Black sold 4,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $91.69, for a total value of $366,760.00. Following the sale, the vice president now owns 23,063 shares of the company’s stock, valued at $2,114,646.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,638 shares of company stock valued at $7,128,039. 0.30% of the stock is owned by corporate insiders.
About Waste Connections
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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