Waste Connections, Inc. (NYSE:WCN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Waste Connections, Inc. (NYSE:WCN) have received an average rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $195.56.

Several research firms have recently weighed in on WCN. CIBC raised their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research report on Friday, July 26th. TD Cowen increased their target price on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Scotiabank assumed coverage on shares of Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th.

Institutional Investors Weigh In On Waste Connections

Several institutional investors and hedge funds have recently modified their holdings of WCN. Global Trust Asset Management LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth about $36,000. FSA Wealth Management LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth about $40,000. Asset Dedication LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth about $41,000. Continuum Advisory LLC lifted its position in shares of Waste Connections by 58.0% in the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after purchasing an additional 83 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Waste Connections in the 1st quarter worth about $43,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Waste Connections stock opened at $183.50 on Friday. The firm’s fifty day moving average price is $180.81 and its 200-day moving average price is $176.60. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $47.35 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 3.13 and a beta of 0.72. Waste Connections has a fifty-two week low of $130.33 and a fifty-two week high of $188.30.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.05. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, equities research analysts expect that Waste Connections will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.69%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Waste Connections Company Profile

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.