Waste Connections Inc (WCN) Expected to Announce Quarterly Sales of $1.27 Billion

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Equities analysts expect Waste Connections Inc (NYSE:WCN) to post $1.27 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Waste Connections’ earnings. Waste Connections reported sales of $1.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 5%. The firm is expected to report its next earnings report on Wednesday, October 24th.

On average, analysts expect that Waste Connections will report full-year sales of $4.88 billion for the current financial year, with estimates ranging from $4.88 billion to $4.89 billion. For the next year, analysts anticipate that the company will post sales of $5.22 billion per share, with estimates ranging from $5.18 billion to $5.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Waste Connections.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS.

WCN has been the subject of several research reports. BMO Capital Markets set a $82.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research report on Friday, May 4th. Royal Bank of Canada boosted their price objective on shares of Waste Connections from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Thursday, May 10th. Citigroup boosted their target price on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Finally, TD Securities boosted their target price on shares of Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $83.00.

In other Waste Connections news, VP Patrick James Shea sold 11,500 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $75.07, for a total value of $863,305.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew Stephen Black sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $75.94, for a total transaction of $379,700.00. The disclosure for this sale can be found here. Insiders sold a total of 39,500 shares of company stock worth $2,994,745 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Waste Connections by 1.5% in the 1st quarter. JPMorgan Chase & Co. now owns 9,873,222 shares of the business services provider’s stock worth $708,306,000 after acquiring an additional 147,543 shares during the last quarter. TCW Group Inc. lifted its position in shares of Waste Connections by 0.9% in the 1st quarter. TCW Group Inc. now owns 1,164,657 shares of the business services provider’s stock worth $83,552,000 after purchasing an additional 10,756 shares during the period. PCJ Investment Counsel Ltd. lifted its position in shares of Waste Connections by 25.7% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 872,844 shares of the business services provider’s stock worth $62,586,000 after purchasing an additional 178,325 shares during the period. Ontario Teachers Pension Plan Board lifted its position in shares of Waste Connections by 1,918.9% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 522,742 shares of the business services provider’s stock worth $37,481,000 after purchasing an additional 496,850 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Waste Connections in the 2nd quarter worth about $768,000. Institutional investors and hedge funds own 83.76% of the company’s stock.

Shares of NYSE WCN traded down $0.50 during mid-day trading on Tuesday, hitting $78.87. The company had a trading volume of 517,583 shares, compared to its average volume of 682,300. Waste Connections has a one year low of $63.47 and a one year high of $79.63. The stock has a market capitalization of $20.91 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.71 and a beta of 0.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 1.15.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 21st. Shareholders of record on Tuesday, August 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Monday, August 6th. Waste Connections’s dividend payout ratio is presently 25.93%.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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