Waste Connections (WCN) Scheduled to Post Earnings on Wednesday

Waste Connections (NYSE:WCN) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Waste Connections has set its FY 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, February 13th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.08 by $0.03. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Waste Connections had a return on equity of 14.42% and a net margin of 9.51%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. On average, analysts expect Waste Connections to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Waste Connections Stock Down 0.7 %

WCN opened at $164.64 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $42.48 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 2.74 and a beta of 0.66. The business has a 50-day moving average of $167.35 and a two-hundred day moving average of $150.63. Waste Connections has a 12 month low of $126.12 and a 12 month high of $173.02.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, February 27th. Waste Connections’s dividend payout ratio (DPR) is 38.51%.

Insider Buying and Selling

In other Waste Connections news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waste Connections

Hedge funds and other institutional investors have recently bought and sold shares of the business. Power Corp of Canada purchased a new stake in Waste Connections during the 1st quarter worth approximately $84,000. Advisors Asset Management Inc. purchased a new stake in Waste Connections during the 4th quarter worth approximately $85,000. Harbour Investments Inc. increased its holdings in Waste Connections by 29.5% during the 4th quarter. Harbour Investments Inc. now owns 719 shares of the business services provider’s stock worth $107,000 after purchasing an additional 164 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Waste Connections by 17.6% in the 4th quarter. Amalgamated Bank now owns 742 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 111 shares during the last quarter. Finally, BOKF NA increased its holdings in shares of Waste Connections by 31.7% in the 4th quarter. BOKF NA now owns 810 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 195 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WCN has been the subject of several recent analyst reports. Oppenheimer lifted their price target on Waste Connections from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Atb Cap Markets lowered Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Royal Bank of Canada assumed coverage on Waste Connections in a research note on Monday, April 8th. They issued an “outperform” rating and a $196.00 price objective on the stock. BMO Capital Markets lifted their price objective on Waste Connections from $166.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, CIBC lifted their price objective on Waste Connections from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.69.

About Waste Connections

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.