Analysts Anticipate Waste Connections Inc (WCN) Will Post Quarterly Sales of $1.24 Billion

Wall Street brokerages expect Waste Connections Inc (NYSE:WCN) to post $1.24 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Waste Connections’ earnings, with the highest sales estimate coming in at $1.25 billion and the lowest estimate coming in at $1.24 billion. Waste Connections reported sales of $1.14 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The company is scheduled to report its next earnings report after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that Waste Connections will report full-year sales of $5.33 billion for the current financial year, with estimates ranging from $5.29 billion to $5.36 billion. For the next fiscal year, analysts expect that the business will post sales of $5.62 billion, with estimates ranging from $5.53 billion to $5.79 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Waste Connections.

Waste Connections (NYSE:WCN) last announced its 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 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 analyst estimates of $1.23 billion. During the same period last year, the firm posted $0.52 EPS. The business’s revenue was up 9.0% compared to the same quarter last year.

WCN has been the subject of several recent analyst reports. Zacks Investment Research cut Waste Connections from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. KeyCorp started coverage on shares of Waste Connections in a research note on Monday, February 4th. They set an “overweight” rating and a $94.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Waste Connections from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. TD Securities upped their price objective on shares of Waste Connections from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, February 15th. Finally, UBS Group increased their target price on shares of Waste Connections from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.64.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC bought a new position in shares of Waste Connections during the 4th quarter valued at $30,000. Resources Investment Advisors Inc. acquired a new stake in Waste Connections in the 4th quarter valued at $32,000. Essex Savings Bank acquired a new stake in Waste Connections in the 4th quarter valued at $33,000. Rehmann Capital Advisory Group lifted its stake in Waste Connections by 3,300.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 429 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Waste Connections by 49.0% during the 4th quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 84.78% of the company’s stock.

Waste Connections stock traded up $0.34 during trading hours on Thursday, reaching $88.55. The company had a trading volume of 822,886 shares, compared to its average volume of 843,657. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $23.35 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 3.03 and a beta of 0.25. Waste Connections has a 12-month low of $70.28 and a 12-month high of $89.41.

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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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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