Waste Connections, Inc. (NYSE:WCN) Receives $130.33 Consensus Price Target from Analysts

Waste Connections, Inc. (NYSE:WCN) has been given an average recommendation of “Buy” by the eight brokerages that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $133.13.

WCN has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Waste Connections from $130.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, July 7th. Raymond James lifted their target price on Waste Connections from $143.00 to $144.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 6th. Royal Bank of Canada boosted their target price on Waste Connections from $130.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. KeyCorp upped their price target on Waste Connections from $115.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 21st. Finally, Oppenheimer upped their price target on Waste Connections from $126.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, July 16th.

Shares of NYSE:WCN traded down $1.59 during midday trading on Thursday, reaching $127.43. 55,408 shares of the company’s stock were exchanged, compared to its average volume of 843,061. The company’s 50 day simple moving average is $127.77 and its two-hundred day simple moving average is $120.87. The firm has a market capitalization of $33.20 billion, a PE ratio of 53.98, a price-to-earnings-growth ratio of 3.14 and a beta of 0.71. Waste Connections has a 12 month low of $97.02 and a 12 month high of $133.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.38 and a current ratio of 1.38.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, August 4th. The business services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.04. Waste Connections had a net margin of 10.95% and a return on equity of 11.17%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $0.60 EPS. Waste Connections’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, research analysts anticipate that Waste Connections will post 3.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Tuesday, August 17th. Waste Connections’s dividend payout ratio is presently 31.06%.

Hedge funds have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC grew its stake in Waste Connections by 239.4% in the 2nd quarter. Trustcore Financial Services LLC now owns 241 shares of the business services provider’s stock valued at $29,000 after buying an additional 170 shares during the last quarter. Acadian Asset Management LLC bought a new position in Waste Connections during the 1st quarter valued at about $32,000. Ameritas Investment Company LLC acquired a new stake in Waste Connections in the 1st quarter valued at about $51,000. HM Payson & Co. grew its position in shares of Waste Connections by 62.5% during the 1st quarter. HM Payson & Co. now owns 486 shares of the business services provider’s stock worth $52,000 after buying an additional 187 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Waste Connections by 1,637.9% during the 1st quarter. Fifth Third Bancorp now owns 504 shares of the business services provider’s stock worth $54,000 after acquiring an additional 475 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections, Inc engages in the provision of solid waste services. Its services include waste collection, transfer, disposal, treatment and recycling. It also provides non-hazardous exploration and production, waste treatment, recovery and disposal services. The company was founded by Ronald J.

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Analyst Recommendations for Waste Connections (NYSE:WCN)

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