Waste Connections (WCN) Set to Announce Quarterly Earnings on Wednesday

Waste Connections (NYSE:WCN) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $1.31 per share for the quarter. Waste Connections has set its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned $1.02 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts expect Waste Connections to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Waste Connections Stock Up 0.1 %

NYSE WCN opened at $182.60 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50-day simple moving average of $182.13 and a 200 day simple moving average of $174.82. Waste Connections has a twelve month low of $126.12 and a twelve month high of $187.54. The stock has a market cap of $47.11 billion, a PE ratio of 59.29, a PEG ratio of 2.90 and a beta of 0.72.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s payout ratio is presently 37.01%.

Insider Transactions at Waste Connections

In other news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the sale, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,600 shares of company stock valued at $3,842,550. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Scotiabank assumed coverage on shares of Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. BMO Capital Markets increased their target price on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, TD Cowen increased their price target on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.00.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.