Waste Connections (WCN) Stock Rating Upgraded by Goldman Sachs Group

Goldman Sachs Group upgraded shares of Waste Connections (NYSE:WCN) to a buy rating in a research report report published on Tuesday morning. Goldman Sachs Group currently has $94.00 price objective on the business services provider’s stock.

A number of other equities analysts have also issued reports on the stock. TD Securities set a $87.00 target price on shares of Waste Connections and gave the stock a hold rating in a research report on Wednesday, November 28th. Zacks Investment Research restated a buy rating and set a $85.00 target price on shares of Waste Connections in a research report on Saturday, November 17th. Royal Bank of Canada raised their target price on shares of Waste Connections from $84.00 to $85.00 and gave the stock an outperform rating in a research report on Wednesday, October 31st. UBS Group set a $90.00 target price on shares of Waste Connections and gave the stock a buy rating in a research report on Wednesday, October 31st. Finally, BMO Capital Markets raised their target price on shares of Waste Connections from $86.00 to $88.00 and gave the stock a buy rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Waste Connections has an average rating of Buy and a consensus target price of $86.09.

Shares of WCN opened at $76.88 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $20.52 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 2.65 and a beta of 0.14. Waste Connections has a 12-month low of $65.06 and a 12-month high of $81.36.

Waste Connections (NYSE:WCN) last announced its earnings results on Monday, October 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Analysts anticipate that Waste Connections will post 2.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, November 9th. Waste Connections’s dividend payout ratio (DPR) is 29.63%.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Waste Connections by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,765,851 shares of the business services provider’s stock valued at $1,895,802,000 after buying an additional 117,287 shares during the last quarter. TD Asset Management Inc. grew its position in Waste Connections by 0.6% in the 3rd quarter. TD Asset Management Inc. now owns 5,249,729 shares of the business services provider’s stock valued at $418,216,000 after buying an additional 31,169 shares during the last quarter. Capital International Investors grew its position in Waste Connections by 13.0% in the 3rd quarter. Capital International Investors now owns 3,714,606 shares of the business services provider’s stock valued at $296,314,000 after buying an additional 426,504 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Waste Connections by 1.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,113,153 shares of the business services provider’s stock valued at $247,975,000 after buying an additional 46,876 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Waste Connections by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,976,711 shares of the business services provider’s stock valued at $224,093,000 after buying an additional 124,200 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Analyst Recommendations for Waste Connections (NYSE:WCN)

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