CIBC restated their market perform rating on shares of Waste Connections (NYSE:WCN) in a research report report published on Thursday morning, FirstToMarketsRatingsTable reports.
Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Zymeworks from a hold rating to a buy rating and set a $19.00 price target for the company in a report on Saturday, April 27th. BMO Capital Markets set a $76.00 price target on Gilead Sciences and gave the company a buy rating in a report on Monday, July 15th. AltaCorp Capital downgraded Waste Connections from an outperform rating to a sector perform rating in a report on Thursday, April 25th. Scotiabank began coverage on Waste Connections in a report on Tuesday, April 23rd. They issued an outperform rating and a $89.25 price target for the company. Finally, Royal Bank of Canada set a $147.00 price target on Ameriprise Financial and gave the company a hold rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $95.79.
Shares of WCN opened at $94.58 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.76 and a beta of 0.21. The business has a fifty day moving average price of $95.18. Waste Connections has a twelve month low of $70.28 and a twelve month high of $97.93.
Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. On average, equities research analysts forecast that Waste Connections will post 2.75 EPS for the current year.
Several institutional investors have recently made changes to their positions in WCN. Norges Bank acquired a new stake in shares of Waste Connections during the fourth quarter valued at about $378,868,000. FMR LLC grew its stake in shares of Waste Connections by 50.3% during the first quarter. FMR LLC now owns 3,455,088 shares of the business services provider’s stock valued at $306,071,000 after acquiring an additional 1,155,609 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Waste Connections by 1,018.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 703,287 shares of the business services provider’s stock valued at $81,784,000 after acquiring an additional 640,380 shares in the last quarter. Millennium Management LLC grew its stake in shares of Waste Connections by 218.2% during the fourth quarter. Millennium Management LLC now owns 593,616 shares of the business services provider’s stock valued at $44,076,000 after acquiring an additional 407,070 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Waste Connections by 41.9% during the first quarter. California Public Employees Retirement System now owns 1,200,672 shares of the business services provider’s stock valued at $106,368,000 after acquiring an additional 354,718 shares in the last quarter. Institutional investors own 83.30% of the company’s stock.
About Waste Connections
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.
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