Waste Connections (NYSE:WCN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Waste Connections (NYSE:WCN) had its price target lifted by Stifel Nicolaus from $205.00 to $212.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other research firms also recently commented on WCN. Scotiabank began coverage on Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective on the stock. Raymond James cut their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Citigroup upped their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. CIBC raised their target price on shares of Waste Connections from $199.00 to $215.00 and gave the company an “outperformer” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer upped their price target on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.88.

Waste Connections Stock Down 2.4 %

NYSE:WCN opened at $179.91 on Wednesday. The stock has a fifty day simple moving average of $184.05 and a 200-day simple moving average of $179.91. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a market cap of $46.43 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. Waste Connections has a twelve month low of $144.69 and a twelve month high of $194.83.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. Analysts anticipate that Waste Connections will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.315 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.70%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is currently 34.62%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Global Trust Asset Management LLC acquired a new position in Waste Connections in the 3rd quarter worth approximately $36,000. FSA Wealth Management LLC acquired a new stake in shares of Waste Connections in the third quarter worth $40,000. Asset Dedication LLC purchased a new position in shares of Waste Connections during the third quarter worth $41,000. Continuum Advisory LLC lifted its position in Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 83 shares during the period. Finally, Signature Resources Capital Management LLC purchased a new stake in Waste Connections in the second quarter valued at $45,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Company Profile

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.