Waste Connections (NYSE:WCN) Price Target Raised to $201.00

Waste Connections (NYSE:WCN) had its target price upped by Scotiabank from $193.00 to $201.00 in a research report report published on Friday, MarketBeat Ratings reports. They currently have a sector outperform rating on the business services provider’s stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Waste Connections from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. UBS Group raised Waste Connections from a “neutral” rating to a “buy” rating and increased their price target for the stock from $176.00 to $200.00 in a research note on Friday, September 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $221.00 price target (up from $218.00) on shares of Waste Connections in a report on Friday. Morgan Stanley cut their price objective on shares of Waste Connections from $205.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Finally, Wolfe Research started coverage on shares of Waste Connections in a research note on Tuesday, September 15th. They set an “outperform” rating and a $204.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and a consensus price target of $202.39.

Waste Connections Price Performance

NYSE WCN opened at $186.48 on Friday. Waste Connections has a 52 week low of $146.89 and a 52 week high of $187.27. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20. The stock has a market cap of $46.72 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 3.35 and a beta of 0.49. The company has a 50-day moving average price of $161.75 and a two-hundred day moving average price of $161.71.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. Analysts forecast that Waste Connections will post 5.70 EPS for the current year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.3850 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, November 5th. Waste Connections’s payout ratio is currently 31.32%.

Insiders Place Their Bets

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president directly owned 734 shares of the company’s stock, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Cloninger sold 2,811 shares of Waste Connections stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the transaction, the senior vice president owned 11,666 shares in the company, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WCN. Royal Bank of Canada raised its position in Waste Connections by 0.9% in the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock worth $1,983,500,000 after acquiring an additional 106,763 shares in the last quarter. BlackRock Inc. bought a new position in shares of Waste Connections during the 2nd quarter valued at about $1,061,947,000. The Manufacturers Life Insurance Company grew its stake in shares of Waste Connections by 48.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider’s stock worth $604,573,000 after purchasing an additional 1,219,056 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Waste Connections in the 2nd quarter worth approximately $510,526,000. Finally, Wellington Management Group LLP acquired a new position in shares of Waste Connections in the 2nd quarter worth approximately $477,944,000. Institutional investors own 86.09% of the company’s stock.

Key Waste Connections News

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Analysts raised price targets: Deutsche Bank lifted its target from $191 to $205 and maintained a “buy” rating. Wells Fargo raised its target from $187 to $211 and upgraded its stance to “overweight,” while Scotiabank increased its target from $193 to $201 and retained a “sector outperform” rating. The targets imply approximately 8% to 13% upside from the referenced share price.
• Positive Sentiment: Third-quarter results exceeded expectations: Waste Connections reported adjusted earnings of $1.58 per share, up from $1.44 a year earlier and ahead of the $1.52 consensus estimate. Revenue rose 23.8% year over year to $2.64 billion, also surpassing analyst expectations. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management raised its outlook as landfill volumes improved, supporting expectations for continued revenue and profit growth. Acquisitions are also contributing to earnings growth and expanding the company’s disposal-services platform. Waste Connections Raises Outlook as Landfill Volumes Improve
• Positive Sentiment: Dividend increased 10%: Waste Connections raised its quarterly dividend to $0.385 per share from $0.35, equivalent to $1.54 annually. The increase signals confidence in cash flow and enhances shareholder returns. Waste Connections Raised Its Dividend 10%

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.