Analysts Expect Waste Connections Inc (NYSE:WCN) to Announce $0.69 Earnings Per Share

Wall Street brokerages predict that Waste Connections Inc (NYSE:WCN) will post earnings per share (EPS) of $0.69 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Waste Connections’ earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.72. Waste Connections reported earnings per share of $0.65 in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The company is expected to issue its next quarterly earnings results on Tuesday, July 23rd.

On average, analysts expect that Waste Connections will report full year earnings of $2.77 per share for the current year, with EPS estimates ranging from $2.68 to $2.89. For the next financial year, analysts anticipate that the firm will post earnings of $3.11 per share, with EPS estimates ranging from $2.96 to $3.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Waste Connections.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. Waste Connections’s quarterly revenue was up 9.2% compared to the same quarter last year.

A number of equities analysts have commented on WCN shares. Zacks Investment Research downgraded Waste Connections from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. UBS Group boosted their price objective on Waste Connections from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Stifel Nicolaus downgraded Waste Connections from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a research report on Thursday, April 11th. Scotiabank initiated coverage on Waste Connections in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $89.25 price objective for the company. Finally, Bank of America reiterated a “buy” rating and set a $98.00 price objective (up from $88.00) on shares of Waste Connections in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Waste Connections currently has an average rating of “Buy” and a consensus target price of $95.40.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC bought a new stake in Waste Connections during the fourth quarter worth approximately $30,000. Resources Investment Advisors Inc. bought a new stake in Waste Connections during the fourth quarter worth approximately $32,000. Rehmann Capital Advisory Group raised its holdings in Waste Connections by 3,300.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock worth $33,000 after purchasing an additional 429 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Waste Connections by 49.0% during the fourth quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock worth $35,000 after purchasing an additional 153 shares in the last quarter. Finally, Cable Hill Partners LLC raised its holdings in Waste Connections by 325.6% during the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock worth $50,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 83.20% of the company’s stock.

WCN stock traded down $0.71 during midday trading on Friday, reaching $94.86. The company had a trading volume of 17,619 shares, compared to its average volume of 831,691. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.47. The stock’s 50 day moving average price is $94.08. Waste Connections has a fifty-two week low of $70.28 and a fifty-two week high of $96.14. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.72 and a beta of 0.23.

About Waste Connections

Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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