Oppenheimer Brokers Reduce Earnings Estimates for Waste Connections, Inc. (NYSE:WCN)

Waste Connections, Inc. (NYSE:WCNGet Rating) – Equities researchers at Oppenheimer cut their Q4 2022 earnings per share (EPS) estimates for Waste Connections in a report issued on Thursday, November 3rd. Oppenheimer analyst N. Kaye now forecasts that the business services provider will post earnings per share of $0.88 for the quarter, down from their previous forecast of $0.91. The consensus estimate for Waste Connections’ current full-year earnings is $3.76 per share.

Several other research analysts also recently commented on the company. BMO Capital Markets raised their price objective on Waste Connections from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Atb Cap Markets raised Waste Connections from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Waste Connections in a research note on Tuesday, October 25th. Morgan Stanley raised their price objective on Waste Connections from $158.00 to $163.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 27th. Finally, Royal Bank of Canada raised their price objective on Waste Connections from $150.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $150.63.

Waste Connections Stock Down 1.5 %

WCN stock opened at $136.45 on Monday. Waste Connections has a fifty-two week low of $113.50 and a fifty-two week high of $148.20. The business’s 50-day moving average is $137.18 and its two-hundred day moving average is $132.04. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.94 and a current ratio of 0.89. The company has a market cap of $35.09 billion, a price-to-earnings ratio of 43.73, a P/E/G ratio of 2.93 and a beta of 0.64.

Hedge Funds Weigh In On Waste Connections

Large investors have recently bought and sold shares of the business. West Oak Capital LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth $27,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth $35,000. New Millennium Group LLC purchased a new stake in shares of Waste Connections in the 2nd quarter worth $32,000. Venture Visionary Partners LLC purchased a new stake in shares of Waste Connections in the 2nd quarter worth $35,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Waste Connections in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 79.33% of the company’s stock.

Insider Activity

In other news, VP Patrick James Shea sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the transaction, the vice president now owns 12,813 shares of the company’s stock, valued at approximately $1,861,216.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.255 per share. The ex-dividend date is Tuesday, November 15th. This represents a $1.02 annualized dividend and a dividend yield of 0.75%. This is an increase from Waste Connections’s previous quarterly dividend of $0.23. Waste Connections’s payout ratio is currently 29.49%.

Waste Connections Company Profile

(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.

Read More

Earnings History and Estimates for Waste Connections (NYSE:WCN)

Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.