Waste Connections (TSE:WCN) Hits New 52-Week High at $196.65

Posted by on Apr 23rd, 2023

Waste Connections, Inc. (TSE:WCN – Get Rating) reached a new 52-week high during trading on Friday . The stock traded as high as C$196.65 and last traded at C$195.78, with a volume of 15984 shares trading hands. The stock had previously closed at C$193.81.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. ATB Capital raised Waste Connections from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$200.00 to C$210.00 in a research report on Friday, February 17th. UBS Group boosted their price objective on shares of Waste Connections from C$200.00 to C$219.00 in a research note on Tuesday, January 10th. BMO Capital Markets initiated coverage on shares of Waste Connections in a report on Friday, February 17th. They issued a “buy” rating and a C$153.00 price target for the company. Atb Cap Markets upgraded Waste Connections from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 16th. Finally, Royal Bank of Canada lifted their price target on Waste Connections from C$148.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Friday, February 17th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average target price of C$174.00.

Waste Connections Stock Performance

The company has a debt-to-equity ratio of 99.99, a current ratio of 0.74 and a quick ratio of 0.74. The company has a fifty day moving average price of C$185.19 and a two-hundred day moving average price of C$183.05. The firm has a market cap of C$50.57 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 2.22 and a beta of 0.68.

Waste Connections (TSE:WCN – Get Rating) last announced its earnings results on Wednesday, February 15th. The company reported C$1.21 EPS for the quarter, beating the consensus estimate of C$1.18 by C$0.03. Waste Connections had a return on equity of 11.85% and a net margin of 11.59%. The business had revenue of C$2.54 billion during the quarter, compared to the consensus estimate of C$2.49 billion. As a group, equities research analysts expect that Waste Connections, Inc. will post 7.9829876 EPS for the current year.

Waste Connections Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.339 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, February 28th. Waste Connections’s dividend payout ratio is currently 32.33%.

Waste Connections Company Profile

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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.

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