KeyCorp Equities Analysts Lift Earnings Estimates for Waste Connections, Inc. (NYSE:WCN)

Waste Connections, Inc. (NYSE:WCN) – Investment analysts at KeyCorp lifted their Q2 2018 earnings estimates for shares of Waste Connections in a report issued on Wednesday. KeyCorp analyst J. Box now expects that the business services provider will post earnings per share of $0.62 for the quarter, up from their prior forecast of $0.60. KeyCorp also issued estimates for Waste Connections’ FY2019 earnings at $2.61 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, topping the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. Waste Connections’s revenue was up 61.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. TRADEMARK VIOLATION NOTICE: This story was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://transcriptdaily.com/2017/07/30/keycorp-equities-analysts-lift-earnings-estimates-for-waste-connections-inc-nysewcn.html.

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $67.33 price target for the company in a report on Tuesday, April 25th. Credit Suisse Group restated a “buy” rating and set a $75.00 price target on shares of Waste Connections in a report on Friday, June 23rd. Barclays PLC restated a “buy” rating and set a $68.00 price target on shares of Waste Connections in a report on Friday, June 23rd. Finally, Stifel Nicolaus raised their price target on shares of Waste Connections from $66.50 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, June 21st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.51.

Waste Connections (NYSE WCN) opened at 65.06 on Friday. Waste Connections has a 1-year low of $47.81 and a 1-year high of $67.14. The firm’s 50-day moving average is $64.91 and its 200-day moving average is $59.92. The stock has a market cap of $17.14 billion, a P/E ratio of 55.32 and a beta of 0.24.

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Waste Connections by 13.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 591,650 shares of the business services provider’s stock valued at $52,195,000 after buying an additional 70,972 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its stake in shares of Waste Connections by 18.5% in the first quarter. Signature Estate & Investment Advisors LLC now owns 5,000 shares of the business services provider’s stock valued at $441,000 after buying an additional 780 shares in the last quarter. Montrusco Bolton Investments Inc. raised its stake in shares of Waste Connections by 762.5% in the first quarter. Montrusco Bolton Investments Inc. now owns 67,278 shares of the business services provider’s stock valued at $5,923,000 after buying an additional 59,478 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Waste Connections by 14.9% in the first quarter. Great West Life Assurance Co. Can now owns 1,636,220 shares of the business services provider’s stock valued at $144,267,000 after buying an additional 211,649 shares in the last quarter. Finally, DnB Asset Management AS acquired a new stake in shares of Waste Connections during the first quarter valued at approximately $944,000. Hedge funds and other institutional investors own 57.70% of the company’s stock.

In other Waste Connections news, Director Susan Lee bought 800 shares of Waste Connections stock in a transaction on Tuesday, June 6th. The stock was purchased at an average cost of $96.97 per share, for a total transaction of $77,576.00. Following the completion of the purchase, the director now directly owns 5,079 shares of the company’s stock, valued at $492,510.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Steven F. Bouck sold 15,000 shares of Waste Connections stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $96.05, for a total transaction of $1,440,750.00. The disclosure for this sale can be found here. Insiders sold 24,400 shares of company stock valued at $2,350,516 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, August 4th. Waste Connections’s dividend payout ratio (DPR) is presently 40.56%.

Waste Connections Company Profile

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.

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




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