Waste Connections (NYSE:WCN) Trading Up 7% Following Better-Than-Expected Earnings

Waste Connections, Inc. (NYSE:WCN) shares were up 7% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $166.87 and last traded at $167.3880. Approximately 482,609 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,610,204 shares. The stock had previously closed at $156.51.

The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a return on equity of 16.40% and a net margin of 10.97%.The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is currently 33.57%.

Trending Headlines about Waste Connections

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Quarterly earnings beat consensus (EPS $1.23 vs $1.19) and adjusted EBITDA/margin came in above expectations, supporting near‑term cash generation. Waste Connections Reports First Quarter 2026 Results
• Positive Sentiment: Management reaffirmed full‑year free cash flow guidance of $1.4B–$1.45B and said it expects roughly $100M of M&A revenue closings by end of Q2/early Q3 — both points that support buyback/dividend flexibility and future growth. M&A revenue closings and FCF guidance
• Positive Sentiment: Board declared a regular quarterly cash dividend of $0.35/share (record May 6, pay May 21), which supports total return for income‑oriented holders. Dividend announcement
• Neutral Sentiment: Company highlighted pricing initiatives and AI pilots (pricing/route optimization) and special‑waste lift results that could help margins over time, but benefits are not yet fully reflected in results. Deep dive on pricing and AI
• Neutral Sentiment: The Q1 earnings call transcript provides detail on commodity impacts, organic growth and acquisition pipeline—useful for modeling but not an immediate stock catalyst. Earnings call transcript
• Negative Sentiment: Revenue missed Street expectations ($2.33B vs. ~$2.50B consensus) and reported net profit declined year‑over‑year (Q1 profit $219.3M vs $241.5M), highlighting near‑term demand/mix pressure. Profit down YoY
• Negative Sentiment: Management cited margin pressure from special‑waste mix and cost dynamics—these headwinds could cap near‑term margin expansion if they persist. Margin commentary

Wall Street Analyst Weigh In

Several analysts have commented on WCN shares. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the company an “overweight” rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 target price on Waste Connections in a research report on Thursday, January 8th. Oppenheimer reiterated an “outperform” rating and set a $205.00 target price (down from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. UBS Group set a $205.00 target price on Waste Connections in a research report on Monday, January 5th. Finally, TD Cowen dropped their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $203.24.

Institutional Investors Weigh In On Waste Connections

Institutional investors and hedge funds have recently modified their holdings of the company. City Holding Co. acquired a new stake in shares of Waste Connections in the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections in the 3rd quarter worth approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Waste Connections by 346.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Waste Connections in the 3rd quarter worth approximately $30,000. Finally, Greykasell Wealth Strategies Inc. grew its holdings in shares of Waste Connections by 555.2% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Up 8.0%

The firm has a market cap of $43.14 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 2.77 and a beta of 0.61. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The business has a fifty day moving average of $164.04 and a two-hundred day moving average of $168.89.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.