Q3 2024 Earnings Forecast for Waste Connections, Inc. (NYSE:WCN) Issued By Atb Cap Markets

Waste Connections, Inc. (NYSE:WCN) – Atb Cap Markets boosted their Q3 2024 earnings per share estimates for Waste Connections in a note issued to investors on Thursday, July 25th. Atb Cap Markets analyst C. Murray now expects that the business services provider will earn $1.29 per share for the quarter, up from their previous estimate of $1.27. The consensus estimate for Waste Connections’ current full-year earnings is $4.81 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.80 EPS, Q2 2025 earnings at $1.42 EPS, Q3 2025 earnings at $1.47 EPS and FY2025 earnings at $5.36 EPS.

A number of other equities analysts have also commented on WCN. TD Cowen raised their price target on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. CIBC raised their price target on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. Oppenheimer raised their price target on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Truist Financial raised their price target on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price target on the stock. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $187.28.

Waste Connections Trading Up 0.3 %

WCN stock opened at $176.36 on Monday. Waste Connections has a 52 week low of $126.12 and a 52 week high of $182.99. The company has a market capitalization of $45.50 billion, a PE ratio of 57.26, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The company’s 50-day simple moving average is $173.02 and its 200 day simple moving average is $167.31. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Insider Activity at Waste Connections

In related news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now directly owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now directly owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $169.00, for a total transaction of $169,000.00. Following the sale, the senior vice president now directly owns 5,321 shares in the company, valued at $899,249. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,500 shares of company stock valued at $752,385. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Waste Connections

Several hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System boosted its position in Waste Connections by 10.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 14,944 shares of the business services provider’s stock worth $2,622,000 after buying an additional 1,442 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Waste Connections by 8.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,674 shares of the business services provider’s stock worth $5,204,000 after buying an additional 2,344 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Waste Connections by 23.2% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 514,105 shares of the business services provider’s stock worth $90,154,000 after buying an additional 96,714 shares during the period. Crossmark Global Holdings Inc. boosted its position in Waste Connections by 11.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 36,070 shares of the business services provider’s stock worth $6,325,000 after buying an additional 3,758 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Waste Connections by 1,167.4% during the 2nd quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock worth $83,020,000 after buying an additional 436,067 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

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.