Waste Connections (WCN) Issues Quarterly Earnings Results

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Waste Connections (NYSE:WCN) released its earnings results on Monday. The business services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02, MarketWatch Earnings reports. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year.

WCN stock opened at $72.50 on Tuesday. Waste Connections has a 1-year low of $65.06 and a 1-year high of $81.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $19.27 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.57 and a beta of 0.05.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. This is a boost from Waste Connections’s previous quarterly dividend of $0.14. Waste Connections’s payout ratio is currently 25.93%.

WCN has been the topic of several analyst reports. TD Securities boosted their target price on Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Royal Bank of Canada boosted their target price on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Saturday, July 7th. Finally, Citigroup boosted their target price on Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Waste Connections currently has an average rating of “Buy” and a consensus price target of $84.11.

In other news, Director Michael W. Harlan sold 11,900 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $79.30, for a total value of $943,670.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Darrell W. Chambliss sold 6,485 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $80.00, for a total value of $518,800.00. The disclosure for this sale can be found here. Insiders sold 38,385 shares of company stock valued at $3,063,670 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Earnings History for Waste Connections (NYSE:WCN)

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