Waste Connections, Inc. (NYSE:WCN) to Post FY2022 Earnings of $3.80 Per Share, Jefferies Financial Group Forecasts

Waste Connections, Inc. (NYSE:WCN – Get Rating) – Investment analysts at Jefferies Financial Group decreased their FY2022 earnings estimates for Waste Connections in a research note issued to investors on Wednesday, January 4th. Jefferies Financial Group analyst S. Moore now expects that the business services provider will post earnings per share of $3.80 for the year, down from their prior estimate of $3.84. Jefferies Financial Group has a “Buy” rating and a $165.00 price target on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $3.80 per share. Jefferies Financial Group also issued estimates for Waste Connections’ FY2023 earnings at $4.19 EPS.

Waste Connections (NYSE:WCN – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Waste Connections had a net margin of 11.59% and a return on equity of 14.10%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion.

WCN has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of Waste Connections from $163.00 to $158.00 and set an “overweight” rating for the company in a research report on Wednesday, January 4th. StockNews.com started coverage on shares of Waste Connections in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Raymond James upped their target price on shares of Waste Connections from $149.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Monday, November 7th. Finally, Royal Bank of Canada upped their target price on shares of Waste Connections from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $151.00.

Waste Connections Stock Up 3.3 %

WCN stock opened at $132.81 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.90. Waste Connections has a 1 year low of $113.50 and a 1 year high of $148.20. The company has a fifty day simple moving average of $137.23 and a 200 day simple moving average of $135.43. The firm has a market cap of $34.16 billion, a PE ratio of 42.57, a PEG ratio of 2.47 and a beta of 0.68.

Hedge Funds Weigh In On Waste Connections

Hedge funds have recently bought and sold shares of the company. West Oak Capital LLC bought a new position in Waste Connections in the 3rd quarter valued at about $27,000. Wipfli Financial Advisors LLC bought a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $35,000. New Millennium Group LLC bought a new stake in shares of Waste Connections during the 2nd quarter valued at approximately $32,000. Venture Visionary Partners LLC bought a new stake in shares of Waste Connections during the 2nd quarter valued at approximately $35,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Waste Connections during the 2nd quarter worth approximately $43,000. 85.58% of the stock is owned by institutional investors.

Insider Transactions at Waste Connections

In other Waste Connections news, SVP Eric Hansen sold 4,000 shares of Waste Connections stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $136.93, for a total value of $547,720.00. Following the completion of the sale, the senior vice president now owns 6,460 shares in the company, valued at approximately $884,567.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Wednesday, November 16th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, November 15th. This is an increase from Waste Connections’s previous quarterly dividend of $0.23. Waste Connections’s dividend payout ratio (DPR) is 32.69%.

About Waste Connections

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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.