Waste Connections Inc (NYSE:WCN) Expected to Post Earnings of $0.72 Per Share

Wall Street brokerages forecast that Waste Connections Inc (NYSE:WCN) will report earnings per share (EPS) of $0.72 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Waste Connections’ earnings, with the lowest EPS estimate coming in at $0.67 and the highest estimate coming in at $0.81. Waste Connections reported earnings of $0.69 per share during the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The firm is scheduled to issue its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Waste Connections will report full year earnings of $2.67 per share for the current financial year, with EPS estimates ranging from $2.58 to $2.85. For the next financial year, analysts expect that the business will report earnings of $3.08 per share, with EPS estimates ranging from $2.95 to $3.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Waste Connections.

Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.69. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Several equities analysts have recently weighed in on WCN shares. Stifel Nicolaus raised Waste Connections from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.00 to $105.00 in a research report on Thursday, April 25th. Oppenheimer reissued a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. Royal Bank of Canada set a $100.00 target price on Waste Connections and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. started coverage on Waste Connections in a research report on Wednesday, August 7th. They set an “overweight” rating and a $98.00 target price on the stock. Finally, ValuEngine downgraded Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $96.40.

Shares of NYSE WCN traded up $0.89 during trading hours on Thursday, hitting $91.27. 765,700 shares of the company traded hands, compared to its average volume of 790,360. The company has a market capitalization of $23.83 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.97 and a beta of 0.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $94.30. Waste Connections has a 12 month low of $70.28 and a 12 month high of $97.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, August 9th. Waste Connections’s dividend payout ratio (DPR) is presently 25.40%.

In other Waste Connections news, VP James Little sold 10,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $89.74, for a total value of $897,400.00. Following the transaction, the vice president now owns 20,280 shares of the company’s stock, valued at approximately $1,819,927.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Darrell W. Chambliss sold 14,100 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $89.55, for a total value of $1,262,655.00. Following the completion of the transaction, the chief operating officer now directly owns 104,100 shares in the company, valued at approximately $9,322,155. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $4,766,745 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in WCN. Dimensional Fund Advisors LP lifted its stake in Waste Connections by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 142,150 shares of the business services provider’s stock valued at $10,554,000 after acquiring an additional 3,311 shares during the last quarter. Geode Capital Management LLC lifted its stake in Waste Connections by 30.0% in the fourth quarter. Geode Capital Management LLC now owns 69,530 shares of the business services provider’s stock valued at $5,027,000 after acquiring an additional 16,043 shares during the last quarter. Nordea Investment Management AB lifted its stake in Waste Connections by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 17,289 shares of the business services provider’s stock valued at $1,284,000 after acquiring an additional 605 shares during the last quarter. We Are One Seven LLC lifted its stake in Waste Connections by 106.4% in the first quarter. We Are One Seven LLC now owns 2,324 shares of the business services provider’s stock valued at $205,000 after acquiring an additional 1,198 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in Waste Connections by 6.7% in the first quarter. DNB Asset Management AS now owns 38,234 shares of the business services provider’s stock valued at $3,387,000 after acquiring an additional 2,413 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors.

Waste Connections Company Profile

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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