Waste Connections Inc (WCN) Expected to Announce Earnings of $0.61 Per Share

Wall Street analysts expect that Waste Connections Inc (NYSE:WCN) will report earnings per share of $0.61 for the current quarter, Zacks reports. Five analysts have provided estimates for Waste Connections’ earnings. The lowest EPS estimate is $0.56 and the highest is $0.63. Waste Connections posted earnings of $0.56 per share in the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The business is expected to issue its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Waste Connections will report full year earnings of $2.81 per share for the current year, with EPS estimates ranging from $2.74 to $2.89. For the next year, analysts forecast that the business will report earnings of $3.10 per share, with EPS estimates ranging from $2.90 to $3.32. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Waste Connections.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Waste Connections had a return on equity of 10.46% and a net margin of 11.11%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year.

Several research analysts have recently issued reports on WCN shares. TD Securities set a $87.00 price objective on Waste Connections and gave the stock a “hold” rating in a research note on Wednesday, November 28th. Goldman Sachs Group upgraded Waste Connections to a “buy” rating and set a $94.00 price objective for the company in a research note on Tuesday, December 4th. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Sunday, January 6th. KeyCorp started coverage on Waste Connections in a research note on Monday, February 4th. They issued an “overweight” rating and a $94.00 price objective for the company. Finally, ValuEngine upgraded Waste Connections from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $88.80.

Shares of NYSE:WCN traded up $0.15 during trading on Friday, hitting $85.34. The stock had a trading volume of 532,091 shares, compared to its average volume of 586,613. Waste Connections has a 12-month low of $70.28 and a 12-month high of $85.92. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 2.91 and a beta of 0.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.65.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, February 28th. Waste Connections’s dividend payout ratio is currently 25.40%.

A number of hedge funds have recently made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new stake in shares of Waste Connections in the fourth quarter valued at approximately $425,000. AMP Capital Investors Ltd increased its position in shares of Waste Connections by 11.8% in the third quarter. AMP Capital Investors Ltd now owns 143,511 shares of the business services provider’s stock valued at $11,408,000 after buying an additional 15,114 shares in the last quarter. DNB Asset Management AS increased its position in shares of Waste Connections by 31.9% in the fourth quarter. DNB Asset Management AS now owns 35,821 shares of the business services provider’s stock valued at $2,660,000 after buying an additional 8,654 shares in the last quarter. Tandem Investment Advisors Inc. purchased a new stake in shares of Waste Connections in the fourth quarter valued at approximately $8,560,000. Finally, Bank of Nova Scotia Trust Co. increased its position in shares of Waste Connections by 80.3% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 103,066 shares of the business services provider’s stock valued at $7,653,000 after buying an additional 45,902 shares in the last quarter. Institutional investors own 83.02% 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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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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