Waste Connections Inc (NYSE:WCN) declared a quarterly dividend on Thursday, July 23rd, Zacks reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.185 per share by the business services provider on Tuesday, August 18th. This represents a $0.74 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Monday, August 3rd.

Waste Connections has increased its dividend payment by an average of 7.6% annually over the last three years and has increased its dividend every year for the last 10 years. Waste Connections has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Waste Connections to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 26.2%.

Waste Connections stock opened at $102.44 on Friday. Waste Connections has a fifty-two week low of $70.87 and a fifty-two week high of $105.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 4.97 and a beta of 0.47. The company’s 50 day simple moving average is $95.00 and its 200 day simple moving average is $92.63.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Waste Connections had a return on equity of 10.71% and a net margin of 10.63%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business posted $0.62 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts predict that Waste Connections will post 2.39 EPS for the current fiscal year.

In other Waste Connections news, CEO Worthing Jackman sold 18,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total transaction of $1,660,680.00. Following the completion of the sale, the chief executive officer now directly owns 113,239 shares in the company, valued at $10,447,430.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Several brokerages have commented on WCN. KeyCorp raised their target price on shares of Waste Connections from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. AltaCorp Capital reiterated a “sector perform” rating on shares of Waste Connections in a report on Thursday, May 7th. Royal Bank of Canada upped their price objective on Waste Connections from $98.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. UBS Group cut their target price on Waste Connections from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Finally, Deutsche Bank raised their price target on shares of Waste Connections from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Waste Connections presently has an average rating of “Buy” and a consensus price target of $107.93.

Waste Connections Company Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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Dividend History for Waste Connections (NYSE:WCN)

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