Atb Cap Markets Equities Analysts Cut Earnings Estimates for Waste Connections, Inc. (TSE:WCN)

Waste Connections, Inc. (TSE:WCN) – Analysts at Atb Cap Markets dropped their Q2 2024 earnings estimates for shares of Waste Connections in a report issued on Thursday, April 25th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings per share of $1.45 for the quarter, down from their previous forecast of $1.59. Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $8.94 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.66 EPS, FY2024 earnings at $6.21 EPS, Q1 2025 earnings at $1.45 EPS, Q2 2025 earnings at $1.71 EPS, Q3 2025 earnings at $1.89 EPS and FY2025 earnings at $6.96 EPS.

Waste Connections (TSE:WCN) last released its earnings results on Wednesday, April 24th. The company reported C$1.40 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.38 by C$0.02. Waste Connections had a return on equity of 10.30% and a net margin of 9.51%. The business had revenue of C$2.79 billion for the quarter, compared to the consensus estimate of C$2.78 billion.

A number of other brokerages have also commented on WCN. Royal Bank of Canada upped their target price on Waste Connections from C$169.00 to C$182.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. ATB Capital increased their price objective on shares of Waste Connections from C$235.00 to C$240.00 and gave the company a “sector perform” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Waste Connections presently has a consensus rating of “Hold” and a consensus target price of C$193.10.

Waste Connections Price Performance

Shares of WCN stock opened at C$223.55 on Monday. Waste Connections has a 12 month low of C$174.74 and a 12 month high of C$234.79. The company has a market capitalization of C$57.68 billion, a P/E ratio of 55.47, a P/E/G ratio of 2.22 and a beta of 0.66. The stock has a 50 day moving average of C$228.55 and a two-hundred day moving average of C$206.43. The company has a current ratio of 0.68, a quick ratio of 0.74 and a debt-to-equity ratio of 91.42.

Insider Buying and Selling

In other news, Senior Officer Robert Michael Cloninger sold 3,746 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$170.21, for a total value of C$637,613.03. In other news, Senior Officer Robert Michael Cloninger sold 3,746 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$170.21, for a total transaction of C$637,613.03. Also, Senior Officer Matthew Stephen Black sold 4,128 shares of Waste Connections stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of C$167.34, for a total transaction of C$690,760.94. Insiders sold 18,026 shares of company stock worth $3,043,157 in the last 90 days. 0.28% of the stock is owned by company insiders.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 7th. This is an increase from Waste Connections’s previous quarterly dividend of $0.38. Waste Connections’s dividend payout ratio (DPR) is 38.21%.

Waste Connections Company Profile

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.