Waste Connections Inc Forecasted to Post Q3 2019 Earnings of $0.72 Per Share (NYSE:WCN)

Waste Connections Inc (NYSE:WCN) – Oppenheimer lowered their Q3 2019 EPS estimates for Waste Connections in a research report issued on Thursday, July 18th. Oppenheimer analyst N. Kaye now anticipates that the business services provider will earn $0.72 per share for the quarter, down from their previous forecast of $0.76. Oppenheimer currently has a “Market Perform” rating on the stock.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Waste Connections had a net margin of 10.89% and a return on equity of 10.58%. Waste Connections’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS.

A number of other analysts have also weighed in on WCN. Zacks Investment Research upgraded shares of Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Saturday, April 27th. Stifel Nicolaus upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and lifted their price target for the stock from $88.00 to $105.00 in a research note on Thursday, April 25th. Royal Bank of Canada set a $147.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, April 26th. UBS Group reiterated a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. Finally, Scotiabank started coverage on shares of Waste Connections in a research note on Tuesday, April 23rd. They issued an “outperform” rating and a $89.25 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $95.79.

NYSE:WCN opened at $94.58 on Friday. The company has a market cap of $24.94 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.79 and a beta of 0.21. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.47 and a current ratio of 1.47. Waste Connections has a fifty-two week low of $70.28 and a fifty-two week high of $97.93. The company’s 50-day moving average price is $95.18.

Several hedge funds have recently made changes to their positions in the company. Cable Hill Partners LLC boosted its holdings in shares of Waste Connections by 325.6% in the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock worth $50,000 after buying an additional 433 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Waste Connections by 44.7% in the first quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock worth $55,000 after buying an additional 192 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Waste Connections by 77.5% in the first quarter. Flagship Harbor Advisors LLC now owns 742 shares of the business services provider’s stock worth $65,000 after buying an additional 324 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Waste Connections by 24.5% in the first quarter. Signaturefd LLC now owns 854 shares of the business services provider’s stock worth $76,000 after buying an additional 168 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Waste Connections by 67.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,080 shares of the business services provider’s stock worth $96,000 after buying an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 83.30% of the company’s stock.

Waste Connections Company Profile

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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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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