Waste Connections (NYSE:WCN – Free Report) had its target price trimmed by CIBC from $215.00 to $212.00 in a report published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the business services provider’s stock.
Other equities analysts also recently issued research reports about the company. Royal Bank of Canada increased their price target on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. BMO Capital Markets dropped their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Citigroup raised their target price on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Raymond James lowered their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.69.
View Our Latest Stock Report on Waste Connections
Waste Connections Price Performance
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, research analysts forecast that Waste Connections will post 4.84 earnings per share for the current year.
Waste Connections Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.72%. Waste Connections’s payout ratio is presently 34.62%.
Hedge Funds Weigh In On Waste Connections
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas acquired a new position in shares of Waste Connections in the 3rd quarter valued at $2,849,000. Tidal Investments LLC grew its stake in Waste Connections by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 7,786 shares of the business services provider’s stock valued at $1,392,000 after purchasing an additional 151 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Waste Connections in the third quarter valued at about $188,000. Virtu Financial LLC purchased a new position in shares of Waste Connections in the third quarter worth about $1,586,000. Finally, TCW Group Inc. lifted its holdings in shares of Waste Connections by 6.7% during the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock worth $129,184,000 after purchasing an additional 45,215 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Stories
- Five stocks we like better than Waste Connections
- Business Services Stocks Investing
- High-Flying HEICO Eyes New Heights in 2025
- What Are Earnings Reports?
- Beyond Reality: Investing in AR/VR Tech for Future Gains
- How to Plot Fibonacci Price Inflection Levels
- Palantir’s Momentum Persists Despite Market Worries
Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.