Waste Connections Inc (NYSE:WCN) – Research analysts at Oppenheimer reduced their Q1 2019 earnings per share (EPS) estimates for Waste Connections in a report released on Monday, April 15th. Oppenheimer analyst N. Kaye now forecasts that the business services provider will post earnings per share of $0.60 for the quarter, down from their prior estimate of $0.61. Oppenheimer also issued estimates for Waste Connections’ Q4 2019 earnings at $0.71 EPS, FY2019 earnings at $2.77 EPS and FY2020 earnings at $3.04 EPS.
A number of other research analysts have also commented on the company. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Sunday, January 6th. KeyCorp assumed coverage on Waste Connections in a report on Monday, February 4th. They set an “overweight” rating and a $94.00 target price on the stock. ValuEngine upgraded Waste Connections from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Bank of America raised their price target on Waste Connections from $80.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Finally, Royal Bank of Canada increased their target price on Waste Connections from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $89.64.
Shares of Waste Connections stock opened at $89.05 on Tuesday. Waste Connections has a 12-month low of $70.28 and a 12-month high of $89.18. The company has a market cap of $23.05 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.99 and a beta of 0.25. 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 during 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 previous year, the company posted $0.52 earnings per share.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Waste Connections by 17.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 397,551 shares of the business services provider’s stock valued at $31,713,000 after acquiring an additional 59,866 shares during the period. Paloma Partners Management Co purchased a new position in Waste Connections during the 3rd quarter worth $638,000. Man Group plc boosted its position in shares of Waste Connections by 2.7% in the third quarter. Man Group plc now owns 89,050 shares of the business services provider’s stock worth $7,104,000 after acquiring an additional 2,300 shares during the last quarter. National Pension Service boosted its position in shares of Waste Connections by 10.9% in the third quarter. National Pension Service now owns 305,689 shares of the business services provider’s stock worth $24,385,000 after acquiring an additional 30,108 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Waste Connections by 40.7% in the third quarter. Point72 Asset Management L.P. now owns 241,751 shares of the business services provider’s stock worth $19,284,000 after acquiring an additional 69,961 shares during the last quarter. 84.79% of the stock is owned by hedge funds and other institutional investors.
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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