Waste Connections (WCN) Scheduled to Post Quarterly Earnings on Wednesday

Waste Connections (NYSE:WCN) will announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to post earnings of $1.02 per share for the quarter. Waste Connections has set its FY 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, February 13th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.03. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.04 billion. Waste Connections had a return on equity of 14.42% and a net margin of 9.51%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. On average, analysts expect Waste Connections to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Waste Connections Stock Performance

Shares of WCN stock opened at $165.02 on Monday. The firm has a market cap of $42.58 billion, a PE ratio of 55.75, a P/E/G ratio of 2.71 and a beta of 0.66. Waste Connections has a 12 month low of $126.12 and a 12 month high of $173.02. The company’s fifty day simple moving average is $167.84 and its 200-day simple moving average is $151.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.88.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.285 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.69%. Waste Connections’s payout ratio is 38.51%.

Insiders Place Their Bets

In other news, Director Andrea E. Bertone sold 902 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waste Connections

A number of institutional investors have recently made changes to their positions in the stock. CIC Wealth LLC purchased a new position in shares of Waste Connections in the 4th quarter worth about $205,000. Integrated Wealth Concepts LLC bought a new stake in shares of Waste Connections in the 2nd quarter worth approximately $204,000. Avalon Investment & Advisory purchased a new position in Waste Connections in the 1st quarter worth $202,000. United Capital Financial Advisers LLC bought a new stake in Waste Connections in the second quarter worth $202,000. Finally, Advisors Asset Management Inc. boosted its position in Waste Connections by 17.9% during the third quarter. Advisors Asset Management Inc. now owns 1,313 shares of the business services provider’s stock valued at $176,000 after buying an additional 199 shares during the period. Institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WCN shares. Jefferies Financial Group increased their price objective on shares of Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their price target on Waste Connections from $153.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. UBS Group downgraded Waste Connections from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $170.00 to $181.00 in a research report on Thursday, February 29th. Oppenheimer boosted their target price on Waste Connections from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.87.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.