Waste Connections, Inc. (NYSE:WCN) – KeyCorp upped their Q3 2017 EPS estimates for Waste Connections in a research report issued on Wednesday. KeyCorp analyst J. Box now anticipates that the business services provider will post earnings of $0.57 per share for the quarter, up from their prior estimate of $0.56. KeyCorp also issued estimates for Waste Connections’ FY2017 earnings at $2.13 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.59 EPS.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. The company’s quarterly revenue was up 61.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS.
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A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Monday. Credit Suisse Group set a $75.00 target price on Waste Connections and gave the stock a “buy” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. lifted their target price on Waste Connections from $74.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 27th. TD Securities lifted their target price on Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada lifted their target price on Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $68.95.
Shares of Waste Connections (NYSE:WCN) opened at 64.98 on Monday. The stock has a market cap of $17.12 billion, a P/E ratio of 55.26 and a beta of 0.24. The firm’s 50-day moving average price is $64.91 and its 200 day moving average price is $59.92. Waste Connections has a 1-year low of $47.81 and a 1-year high of $67.14.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, August 4th. Waste Connections’s dividend payout ratio (DPR) is 40.56%.
In other news, Director Michael W. Harlan sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $96.49, for a total transaction of $328,066.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Lee purchased 1,200 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average cost of $92.05 per share, for a total transaction of $110,460.00. Following the purchase, the director now directly owns 3,679 shares in the company, valued at $338,651.95. The disclosure for this purchase can be found here. Insiders have sold a total of 24,400 shares of company stock worth $2,350,516 in the last three months. Corporate insiders own 0.68% of the company’s stock.
Large investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. purchased a new stake in shares of Waste Connections during the first quarter valued at approximately $219,000. Friedberg Investment Management raised its stake in shares of Waste Connections by 13.5% in the first quarter. Friedberg Investment Management now owns 80,720 shares of the business services provider’s stock valued at $7,121,000 after buying an additional 9,590 shares during the period. Edge Asset Management Inc. raised its stake in shares of Waste Connections by 0.3% in the first quarter. Edge Asset Management Inc. now owns 601,998 shares of the business services provider’s stock valued at $53,108,000 after buying an additional 1,842 shares during the period. Korea Investment CORP raised its stake in shares of Waste Connections by 479.3% in the first quarter. Korea Investment CORP now owns 7,572 shares of the business services provider’s stock valued at $668,000 after buying an additional 6,265 shares during the period. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Waste Connections during the first quarter valued at approximately $110,000. 58.20% of the stock is currently owned by institutional investors and hedge funds.
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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