Waste Connections (WCN) to Release Quarterly Earnings on Wednesday

Posted by Defense World Staff on Oct 18th, 2023

Waste Connections (NYSE:WCN – Get Free Report) is set to release its earnings data after the market closes on Wednesday, October 25th. Analysts expect Waste Connections to post earnings of $1.14 per share for the quarter. Waste Connections has set its FY 2023 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Waste Connections (NYSE:WCN – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Waste Connections had a return on equity of 14.01% and a net margin of 10.93%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. On average, analysts expect Waste Connections to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Waste Connections Trading Up 0.3 %

Shares of NYSE:WCN opened at $139.14 on Wednesday. Waste Connections has a 12-month low of $125.83 and a 12-month high of $146.12. The stock has a market cap of $35.85 billion, a PE ratio of 42.81, a P/E/G ratio of 3.00 and a beta of 0.67. The business has a 50 day moving average of $138.25 and a 200-day moving average of $139.40. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.90.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Tuesday, August 15th. Waste Connections’s dividend payout ratio is presently 31.38%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WCN. Wolfe Research began coverage on shares of Waste Connections in a research report on Tuesday. They issued an “outperform” rating and a $152.00 price target for the company. CIBC lifted their price target on shares of Waste Connections from $155.00 to $156.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Royal Bank of Canada lifted their price target on shares of Waste Connections from $159.00 to $164.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Raymond James dropped their price target on shares of Waste Connections from $165.00 to $163.00 and set a “strong-buy” rating for the company in a research report on Friday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Waste Connections from $152.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.44.

Get Our Latest Analysis on WCN

Insider Activity

In related news, VP James Little sold 3,200 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $137.97, for a total value of $441,504.00. Following the completion of the sale, the vice president now directly owns 26,210 shares in the company, valued at $3,616,193.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of Waste Connections

Institutional investors and hedge funds have recently bought and sold shares of the stock. Power Corp of Canada acquired a new stake in Waste Connections during the 1st quarter worth about $84,000. Advisors Asset Management Inc. acquired a new stake in Waste Connections during the 4th quarter worth about $85,000. Amalgamated Bank grew its holdings in Waste Connections by 17.6% during the 4th quarter. Amalgamated Bank now owns 742 shares of the business services provider’s stock worth $98,000 after acquiring an additional 111 shares during the period. Belpointe Asset Management LLC grew its holdings in Waste Connections by 79.6% during the 1st quarter. Belpointe Asset Management LLC now owns 889 shares of the business services provider’s stock worth $124,000 after acquiring an additional 394 shares during the period. Finally, Wahed Invest LLC acquired a new stake in Waste Connections during the 1st quarter worth about $145,000. 85.02% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Company Profile

(Get Free Report)

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.