Q2 2024 Earnings Estimate for Waste Connections, Inc. Issued By Atb Cap Markets (NYSE:WCN)

Waste Connections, Inc. (NYSE:WCN) – Atb Cap Markets decreased their Q2 2024 earnings per share estimates for Waste Connections in a report released on Thursday, April 25th. Atb Cap Markets analyst C. Murray now forecasts that the business services provider will post earnings of $1.06 per share for the quarter, down from their prior forecast of $1.18. Atb Cap Markets currently has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $4.84 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.21 EPS, FY2024 earnings at $4.53 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.38 EPS and FY2025 earnings at $5.07 EPS.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year.

Several other brokerages have also recently weighed in on WCN. Royal Bank of Canada dropped their price objective on Waste Connections from $196.00 to $195.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Oppenheimer increased their target price on shares of Waste Connections from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Scotiabank raised their price target on shares of Waste Connections from $146.50 to $179.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Finally, Wells Fargo & Company boosted their target price on Waste Connections from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.33.

Waste Connections Stock Down 1.0 %

NYSE:WCN opened at $163.48 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.68 and a current ratio of 0.75. The stock has a 50-day simple moving average of $168.22 and a 200 day simple moving average of $152.30. The company has a market cap of $42.18 billion, a PE ratio of 53.08, a PEG ratio of 2.68 and a beta of 0.66. Waste Connections has a 52-week low of $126.12 and a 52-week high of $173.02.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.70%. Waste Connections’s dividend payout ratio is currently 37.01%.

Insiders Place Their Bets

In other news, Director Andrea E. Bertone sold 902 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total transaction of $152,591.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCN. Royal Bank of Canada grew its position in shares of Waste Connections by 20.5% during the 3rd quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after acquiring an additional 1,920,302 shares during the period. TD Asset Management Inc grew its position in shares of Waste Connections by 9.8% during the 4th quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock valued at $856,641,000 after acquiring an additional 509,929 shares during the period. Wellington Management Group LLP grew its position in shares of Waste Connections by 43.4% during the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock valued at $651,427,000 after acquiring an additional 1,320,933 shares during the period. 1832 Asset Management L.P. grew its position in shares of Waste Connections by 7.3% during the 4th quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock valued at $612,605,000 after acquiring an additional 280,275 shares during the period. Finally, Norges Bank acquired a new stake in shares of Waste Connections during the 4th quarter valued at about $592,392,000. 86.09% of the stock is owned by institutional investors and hedge funds.

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.