Waste Connections, Inc. (WCN) to Post FY2017 Earnings of $2.10 Per Share, Gabelli Forecasts
Waste Connections, Inc. (NYSE:WCN) – Analysts at Gabelli increased their FY2017 EPS estimates for shares of Waste Connections in a report released on Friday. Gabelli analyst T. Bancroft now expects that the business services provider will post earnings of $2.10 per share for the year, up from their prior estimate of $2.05. Gabelli also issued estimates for Waste Connections’ FY2018 earnings at $2.45 EPS, FY2019 earnings at $2.75 EPS, FY2020 earnings at $3.05 EPS and FY2021 earnings at $3.40 EPS.
A number of other research firms also recently weighed in on WCN. Stifel Nicolaus increased their price target on shares of Waste Connections from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. TD Securities increased their price target on shares of Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Barclays PLC increased their price target on shares of Waste Connections from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada increased their price target on shares of Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $75.61.
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Shares of Waste Connections (NYSE:WCN) opened at 71.08 on Monday. Waste Connections has a 52-week low of $48.78 and a 52-week high of $74.20. The stock’s 50 day moving average is $70.00 and its 200 day moving average is $65.38. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 60.44 and a beta of 0.23.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS.
Several hedge funds have recently modified their holdings of WCN. Vanguard Group Inc. raised its stake in shares of Waste Connections by 55.9% in the 2nd quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock valued at $1,449,523,000 after acquiring an additional 8,068,453 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Waste Connections by 59.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock valued at $757,414,000 after acquiring an additional 4,380,232 shares during the period. Royal Bank of Canada raised its stake in shares of Waste Connections by 59.9% in the 2nd quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock valued at $647,028,000 after acquiring an additional 3,762,212 shares during the period. CIBC World Markets Inc. purchased a new position in shares of Waste Connections in the 2nd quarter valued at $207,877,000. Finally, Janus Henderson Group PLC raised its stake in shares of Waste Connections by 16,829.1% in the 2nd quarter. Janus Henderson Group PLC now owns 2,138,483 shares of the business services provider’s stock valued at $137,761,000 after acquiring an additional 2,125,851 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Edward E. Guillet sold 11,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total value of $750,605.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company’s stock.
Waste Connections declared that its Board of Directors has approved a share buyback plan on Wednesday, August 2nd that allows the company to repurchase 13,180,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 7th. This is an increase from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s dividend payout ratio (DPR) is currently 36.36%.
Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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