Q2 2024 EPS Estimates for Waste Connections, Inc. Cut by Analyst (TSE:WCN)

Waste Connections, Inc. (TSE:WCN) – Equities researchers at Atb Cap Markets decreased their Q2 2024 earnings per share estimates for shares of Waste Connections in a report released on Thursday, April 25th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings of $1.45 per share for the quarter, down from their previous forecast of $1.59. Atb Cap Markets currently has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $8.94 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.66 EPS, FY2024 earnings at $6.21 EPS, Q1 2025 earnings at $1.45 EPS, Q2 2025 earnings at $1.71 EPS, Q3 2025 earnings at $1.89 EPS and FY2025 earnings at $6.96 EPS.

A number of other analysts have also commented on the company. Royal Bank of Canada lifted their target price on Waste Connections from C$169.00 to C$182.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. ATB Capital lifted their price objective on Waste Connections from C$235.00 to C$240.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$193.10.

Waste Connections Price Performance

Shares of TSE WCN opened at C$223.20 on Monday. The firm has a market cap of C$57.59 billion, a P/E ratio of 55.38, a PEG ratio of 2.22 and a beta of 0.66. Waste Connections has a twelve month low of C$174.74 and a twelve month high of C$234.79. The company has a quick ratio of 0.74, a current ratio of 0.68 and a debt-to-equity ratio of 91.42. The company has a 50 day moving average of C$228.47 and a 200 day moving average of C$206.93.

Waste Connections (TSE:WCN) last issued its earnings results on Wednesday, April 24th. The company reported C$1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.38 by C$0.02. Waste Connections had a net margin of 9.51% and a return on equity of 10.30%. The business had revenue of C$2.79 billion during the quarter, compared to analysts’ expectations of C$2.78 billion.

Insider Buying and Selling

In other Waste Connections news, Director Andrea Elisabeth Bertone sold 902 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$169.17, for a total value of C$152,589.90. In related news, Director Andrea Elisabeth Bertone sold 902 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of C$169.17, for a total transaction of C$152,589.90. Also, Senior Officer Matthew Stephen Black sold 4,128 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of C$167.34, for a total transaction of C$690,760.94. Insiders sold 18,026 shares of company stock valued at $3,043,157 over the last 90 days. Company insiders own 0.28% of the company’s stock.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be paid a $0.385 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, May 7th. Waste Connections’s dividend payout ratio (DPR) is 38.21%.

About Waste Connections

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.