Brokerages expect that Waste Connections, Inc. (NYSE:WCN) will report $0.81 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Waste Connections’ earnings. The highest EPS estimate is $0.84 and the lowest is $0.75. Waste Connections reported earnings per share of $0.68 during the same quarter last year, which indicates a positive year over year growth rate of 19.1%. The business is scheduled to report its next earnings report on Wednesday, February 16th.
On average, analysts expect that Waste Connections will report full year earnings of $3.21 per share for the current year, with EPS estimates ranging from $3.15 to $3.24. For the next fiscal year, analysts anticipate that the business will report earnings of $3.70 per share, with EPS estimates ranging from $3.49 to $4.07. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Waste Connections.
Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 27th. The business services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Waste Connections had a return on equity of 11.73% and a net margin of 9.83%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. Waste Connections’s revenue was up 14.9% on a year-over-year basis.
WCN has been the subject of a number of analyst reports. KeyCorp raised their price target on Waste Connections from $136.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 21st. Raymond James increased their target price on Waste Connections from $144.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 29th. Deutsche Bank Aktiengesellschaft increased their target price on Waste Connections from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, October 29th. Royal Bank of Canada raised their price target on Waste Connections from $139.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, October 29th. Finally, BMO Capital Markets restated a “buy” rating on shares of Waste Connections in a research note on Sunday, October 31st. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $138.88.
In related news, VP James Little sold 2,500 shares of the stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $137.76, for a total transaction of $344,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jason Craft sold 1,250 shares of the company’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $138.21, for a total value of $172,762.50. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in WCN. Global Retirement Partners LLC lifted its position in Waste Connections by 65.9% during the 3rd quarter. Global Retirement Partners LLC now owns 277 shares of the business services provider’s stock worth $35,000 after acquiring an additional 110 shares during the period. Vestor Capital LLC acquired a new stake in Waste Connections during the 3rd quarter worth approximately $41,000. NEXT Financial Group Inc lifted its position in Waste Connections by 236.0% during the 3rd quarter. NEXT Financial Group Inc now owns 336 shares of the business services provider’s stock worth $43,000 after acquiring an additional 236 shares during the period. Deseret Mutual Benefit Administrators acquired a new stake in Waste Connections during the 2nd quarter worth approximately $78,000. Finally, Parallel Advisors LLC lifted its position in Waste Connections by 30.0% during the 2nd quarter. Parallel Advisors LLC now owns 710 shares of the business services provider’s stock worth $85,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.
Shares of NYSE WCN traded up $1.67 during midday trading on Friday, reaching $132.19. 643,269 shares of the stock traded hands, compared to its average volume of 829,453. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $34.44 billion, a PE ratio of 59.28, a P/E/G ratio of 2.96 and a beta of 0.73. Waste Connections has a one year low of $97.02 and a one year high of $138.82. The company’s 50 day moving average is $133.93 and its 200 day moving average is $128.45.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 23rd. Investors of record on Tuesday, November 9th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.70%. This is a boost from Waste Connections’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, November 8th. Waste Connections’s payout ratio is presently 41.26%.
About Waste Connections
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.