Waste Connections (NYSE:WCN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday, February 4th.
Several other brokerages also recently issued reports on WCN. KeyCorp assumed coverage on shares of Waste Connections in a research note on Monday, February 4th. They set an “overweight” rating and a $94.00 price objective on the stock. TD Securities set a $87.00 price target on shares of Waste Connections and gave the stock a “hold” rating in a research report 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. Finally, 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. 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.
WCN stock traded up $0.31 during trading on Monday, reaching $83.71. 529,085 shares of the company were exchanged, compared to its average volume of 810,174. Waste Connections has a 52-week low of $69.88 and a 52-week high of $85.06. The company has a market cap of $21.96 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.84 and a beta of 0.30. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.65.
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. Waste Connections had a net margin of 11.11% and a return on equity of 10.46%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Waste Connections will post 2.82 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of Waste Connections by 0.9% in the 4th quarter. Comerica Bank now owns 16,310 shares of the business services provider’s stock worth $1,321,000 after acquiring an additional 139 shares during the period. Proficio Capital Partners LLC increased its holdings 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 acquiring an additional 153 shares during the period. First Hawaiian Bank increased its holdings 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 acquiring an additional 188 shares during the period. AGF Investments Inc. increased its stake in Waste Connections by 0.3% during the 4th quarter. AGF Investments Inc. now owns 74,530 shares of the business services provider’s stock valued at $5,534,000 after buying an additional 199 shares during the period. Finally, M&T Bank Corp increased its stake in Waste Connections by 2.0% during the 4th quarter. M&T Bank Corp now owns 10,330 shares of the business services provider’s stock valued at $767,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.
Waste Connections Company Profile
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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