Waste Connections Inc (WCN) Receives Average Rating of “Buy” from Analysts

Waste Connections Inc (NYSE:WCN) has been assigned a consensus recommendation of “Buy” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $78.47.

Several analysts have weighed in on the stock. Credit Suisse Group set a $82.00 price objective on shares of Waste Connections and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Zacks Investment Research cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. KeyCorp lifted their price objective on shares of Waste Connections from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. TD Securities lifted their price objective on shares of Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, Oppenheimer lifted their price objective on shares of Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th.

Shares of Waste Connections (WCN) traded up $0.91 during mid-day trading on Friday, hitting $70.91. 1,044,200 shares of the company traded hands, compared to its average volume of 875,000. The company has a market cap of $18,660.00, a P/E ratio of 53.72, a price-to-earnings-growth ratio of 3.71 and a beta of 0.18. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66. Waste Connections has a 1-year low of $52.29 and a 1-year high of $74.20.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS 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%. Waste Connections’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. equities research analysts anticipate that Waste Connections will post 2.13 earnings per share for the current fiscal year.

In other news, Director Robert Davis sold 700 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $71.72, for a total value of $50,204.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darrell W. Chambliss sold 5,625 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total transaction of $399,318.75. Following the completion of the transaction, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Several large investors have recently modified their holdings of WCN. First Trust Advisors LP acquired a new position in shares of Waste Connections in the 2nd quarter valued at approximately $539,000. Bank of New York Mellon Corp raised its position in shares of Waste Connections by 50.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 345,552 shares of the business services provider’s stock valued at $22,261,000 after buying an additional 115,646 shares in the last quarter. Comerica Bank raised its position in shares of Waste Connections by 35.6% in the 2nd quarter. Comerica Bank now owns 18,513 shares of the business services provider’s stock valued at $1,183,000 after buying an additional 4,856 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Waste Connections by 50.0% in the 2nd quarter. Prudential Financial Inc. now owns 4,548 shares of the business services provider’s stock valued at $293,000 after buying an additional 1,516 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Waste Connections by 49.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 4,113 shares of the business services provider’s stock valued at $265,000 after buying an additional 1,363 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

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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.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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