Q2 2024 EPS Estimates for Waste Connections, Inc. (NYSE:WCN) Cut by Atb Cap Markets

Waste Connections, Inc. (NYSE:WCN) – Research analysts at Atb Cap Markets cut their Q2 2024 earnings per share estimates for Waste Connections in a research note issued on Thursday, April 25th. Atb Cap Markets analyst C. Murray now anticipates that the business services provider will post earnings per share of $1.06 for the quarter, down from their previous estimate of $1.18. Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $4.84 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.21 EPS, FY2024 earnings at $4.53 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.38 EPS and FY2025 earnings at $5.07 EPS.

A number of other equities research analysts also recently commented on the stock. Oppenheimer raised their target price on Waste Connections from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Stifel Nicolaus upped their target price on shares of Waste Connections from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Scotiabank lifted their price target on shares of Waste Connections from $146.50 to $179.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Waste Connections from $153.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, Wells Fargo & Company raised their price objective on Waste Connections from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.33.

Waste Connections Trading Up 0.7 %

WCN opened at $164.65 on Monday. The firm has a market cap of $42.48 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 2.64 and a beta of 0.66. Waste Connections has a 52 week low of $126.12 and a 52 week high of $173.02. The business’s 50 day moving average is $168.16 and its two-hundred day moving average is $152.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year.

Institutional Trading of Waste Connections

Several hedge funds have recently added to or reduced their stakes in the business. Pacifica Partners Inc. bought a new position in Waste Connections in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC increased its holdings in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. Headinvest LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at about $36,000. Operose Advisors LLC bought a new stake in shares of Waste Connections in the third quarter valued at about $40,000. Finally, Rational Advisors LLC acquired a new position in shares of Waste Connections during the third quarter worth about $41,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Activity

In related news, Director Andrea E. Bertone sold 902 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total value of $152,591.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, May 7th. Waste Connections’s dividend payout ratio is currently 37.01%.

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.