Waste Connections (WCN) Set to Announce Earnings on Tuesday

Waste Connections (NYSE:WCN – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, May 3rd. Analysts expect Waste Connections to post earnings of $0.84 per share for the quarter. Waste Connections has set its FY 2022 guidance at $3.270-$3.270 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Waste Connections (NYSE:WCN – Get Rating) last issued its quarterly earnings results on Wednesday, February 16th. The business services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. Waste Connections had a return on equity of 12.23% and a net margin of 10.05%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $0.68 EPS. The business’s revenue was up 16.2% compared to the same quarter last year. On average, analysts expect Waste Connections to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

WCN stock opened at $136.25 on Tuesday. The firm has a market cap of $35.04 billion, a PE ratio of 57.49, a price-to-earnings-growth ratio of 2.97 and a beta of 0.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $134.17 and a 200-day moving average price of $131.91. Waste Connections has a 1-year low of $115.75 and a 1-year high of $145.62.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 16th. Investors of record on Wednesday, March 2nd were paid a dividend of $0.181 per share. The ex-dividend date was Tuesday, March 1st. This represents a $0.72 annualized dividend and a yield of 0.53%. Waste Connections’s dividend payout ratio is currently 38.82%.

A number of hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in Waste Connections during the 4th quarter valued at $29,000. JustInvest LLC purchased a new stake in shares of Waste Connections in the fourth quarter valued at about $207,000. Virtu Financial LLC bought a new position in shares of Waste Connections during the fourth quarter valued at about $482,000. NewEdge Advisors LLC lifted its position in shares of Waste Connections by 169.0% during the fourth quarter. NewEdge Advisors LLC now owns 4,457 shares of the business services provider’s stock valued at $608,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its holdings in Waste Connections by 40.5% during the fourth quarter. Vident Investment Advisory LLC now owns 5,176 shares of the business services provider’s stock worth $707,000 after purchasing an additional 1,492 shares during the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.

WCN has been the topic of a number of research analyst reports. Scotiabank cut Waste Connections from a “sector outperform” rating to a “sector perform” rating and set a $135.00 price target on the stock. in a report on Thursday, April 7th. StockNews.com began coverage on shares of Waste Connections in a report on Thursday, March 31st. They issued a “buy” rating for the company. BMO Capital Markets dropped their price objective on shares of Waste Connections from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, February 18th. Royal Bank of Canada raised their target price on Waste Connections from $147.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, February 18th. Finally, Raymond James boosted their target price on Waste Connections from $145.00 to $160.00 and gave the company a “strong-buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $142.38.

About Waste Connections (Get Rating)

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.

Further Reading