Waste Connections, Inc. Declares Quarterly Dividend of $0.35 (NYSE:WCN)

Waste Connections, Inc. (NYSE:WCN) announced a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Wednesday, May 6th will be given a dividend of 0.35 per share by the business services provider on Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 6th.

Waste Connections has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Waste Connections has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Waste Connections to earn $6.25 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.4%.

Waste Connections Price Performance

WCN stock opened at $156.55 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. Waste Connections has a 1 year low of $154.90 and a 1 year high of $199.78. The firm has a market cap of $39.96 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. The stock has a 50-day simple moving average of $163.82 and a 200-day simple moving average of $168.89.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Waste Connections will post 5.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WCN shares. UBS Group set a $205.00 target price on Waste Connections in a research note on Monday, January 5th. Wolfe Research started coverage on Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price for the company. TD Cowen lowered their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $210.00 target price (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $205.00 target price (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Connections presently has an average rating of “Buy” and an average price target of $202.81.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.