Waste Connections (NYSE:WCN) Announces Earnings Results, Hits Estimates

Waste Connections (NYSE:WCN) issued its quarterly earnings data on Wednesday. The business services provider reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29, Zacks reports. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%.

Waste Connections Stock Up 0.6%

Waste Connections stock traded up $1.00 during midday trading on Wednesday, hitting $171.65. 2,023,089 shares of the company’s stock were exchanged, compared to its average volume of 1,695,594. The company has a market cap of $43.89 billion, a PE ratio of 71.52, a P/E/G ratio of 3.11 and a beta of 0.62. The firm has a 50-day moving average of $171.36 and a two-hundred day moving average of $174.98. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections has a 12 month low of $162.06 and a 12 month high of $201.66.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WCN shares. BNP Paribas Exane started coverage on Waste Connections in a research note on Tuesday, January 6th. They issued an “outperform” rating on the stock. Wells Fargo & Company started coverage on Waste Connections in a research note on Thursday, November 13th. They issued an “overweight” rating and a $186.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $205.00 target price (down from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. Sanford C. Bernstein restated an “outperform” rating and issued a $205.00 target price (up from $200.00) on shares of Waste Connections in a report on Monday, January 5th. Finally, UBS Group set a $205.00 target price on shares of Waste Connections in a research report on Monday, January 5th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $206.50.

Institutional Investors Weigh In On Waste Connections

Several institutional investors and hedge funds have recently made changes to their positions in WCN. Integrated Wealth Concepts LLC acquired a new position in shares of Waste Connections in the 1st quarter valued at $577,000. Invesco Ltd. grew its stake in Waste Connections by 12.8% during the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock valued at $40,946,000 after purchasing an additional 24,948 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Waste Connections by 2.9% in the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock valued at $4,572,000 after purchasing an additional 688 shares during the period. Jump Financial LLC acquired a new position in shares of Waste Connections in the second quarter valued at about $2,714,000. Finally, State Street Corp raised its stake in shares of Waste Connections by 1.0% in the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock worth $337,708,000 after purchasing an additional 17,197 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.