Waste Connections Inc (WCN) Given Average Recommendation of “Buy” by Brokerages

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Shares of Waste Connections Inc (NYSE:WCN) have been assigned a consensus rating of “Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $83.30.

A number of analysts recently commented on WCN shares. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Saturday, July 7th. TD Securities lifted their price objective on shares of Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. Royal Bank of Canada lifted their price objective on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Citigroup lifted their price objective on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, BMO Capital Markets lifted their price objective on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, June 29th.

WCN stock traded up $0.20 during trading on Friday, reaching $77.43. The company had a trading volume of 15,634 shares, compared to its average volume of 670,709. The stock has a market capitalization of $20.41 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.65 and a beta of 0.05. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.60. Waste Connections has a twelve month low of $65.06 and a twelve month high of $81.36.

Waste Connections (NYSE:WCN) last released its earnings results on Tuesday, July 24th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. Waste Connections’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts expect that Waste Connections will post 2.5 earnings per share for the current year.

In other news, VP David Eddie sold 20,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $80.06, for a total transaction of $1,601,200.00. Following the completion of the transaction, the vice president now directly owns 36,320 shares of the company’s stock, valued at approximately $2,907,779.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Darrell W. Chambliss sold 6,485 shares of Waste Connections stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total transaction of $518,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,385 shares of company stock valued at $3,063,670. Insiders own 0.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of Waste Connections by 4.6% during the 1st quarter. Royal Bank of Canada now owns 10,560,499 shares of the business services provider’s stock valued at $757,609,000 after purchasing an additional 467,951 shares in the last quarter. CIBC World Markets Inc. increased its holdings in Waste Connections by 3.4% in the 1st quarter. CIBC World Markets Inc. now owns 3,073,757 shares of the business services provider’s stock worth $220,511,000 after acquiring an additional 100,669 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Waste Connections by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,976,711 shares of the business services provider’s stock worth $224,093,000 after acquiring an additional 124,200 shares in the last quarter. BlackRock Inc. increased its holdings in Waste Connections by 4.3% in the 2nd quarter. BlackRock Inc. now owns 2,826,679 shares of the business services provider’s stock worth $212,793,000 after acquiring an additional 116,433 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Waste Connections by 1.6% in the 2nd quarter. Brown Advisory Inc. now owns 2,067,697 shares of the business services provider’s stock worth $155,749,000 after acquiring an additional 33,296 shares in the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Analyst Recommendations for Waste Connections (NYSE:WCN)

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