KeyCorp started coverage on shares of Waste Connections (NYSE:WCN) in a research note published on Monday, February 4th, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $94.00 target price on the business services provider’s stock. KeyCorp also issued estimates for Waste Connections’ FY2018 earnings at $2.52 EPS, Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.84 EPS, Q1 2020 earnings at $0.69 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.83 EPS, Q4 2020 earnings at $0.75 EPS and FY2020 earnings at $3.04 EPS.
Several other brokerages also recently issued reports on WCN. TD Securities set a $87.00 price objective on shares of Waste Connections and gave the company a hold rating in a research note on Wednesday, November 28th. Goldman Sachs Group raised shares of Waste Connections to a buy rating and set a $94.00 price target for the company in a research report on Tuesday, December 4th. Zacks Investment Research reaffirmed a buy rating and set a $85.00 price target on shares of Waste Connections in a research report on Saturday, November 17th. Royal Bank of Canada increased their price objective on shares of Waste Connections from $84.00 to $85.00 and gave the stock an outperform rating in a research report on Wednesday, October 31st. Finally, UBS Group set a $90.00 price objective on shares of Waste Connections and gave the stock a buy rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Waste Connections currently has a consensus rating of Buy and an average target price of $88.80.
Shares of NYSE WCN traded up $0.31 on Monday, hitting $83.71. The company’s stock had a trading volume of 529,085 shares, compared to its average volume of 810,174. Waste Connections has a 12-month low of $69.88 and a 12-month high of $85.06. The company has a market capitalization of $21.96 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 2.84 and a beta of 0.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.27 and a quick ratio of 1.27.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 13th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Waste Connections had a net margin of 11.11% and a return on equity of 10.46%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, analysts forecast that Waste Connections will post 2.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.76%. Waste Connections’s dividend payout ratio (DPR) is 25.40%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank boosted its stake in Waste Connections by 0.9% during the 4th quarter. Comerica Bank now owns 16,310 shares of the business services provider’s stock valued at $1,321,000 after acquiring an additional 139 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Waste Connections by 49.0% in the 4th quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock worth $35,000 after buying an additional 153 shares during the last quarter. First Hawaiian Bank lifted its position in shares of Waste Connections by 28.0% in the 4th quarter. First Hawaiian Bank now owns 860 shares of the business services provider’s stock worth $63,000 after buying an additional 188 shares during the last quarter. AGF Investments Inc. lifted its position in shares of Waste Connections by 0.3% in the 4th quarter. AGF Investments Inc. now owns 74,530 shares of the business services provider’s stock worth $5,534,000 after buying an additional 199 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of Waste Connections by 2.0% in the 4th quarter. M&T Bank Corp now owns 10,330 shares of the business services provider’s stock worth $767,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 82.83% 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.
Further Reading: Reverse Stock Split
Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.