Q2 2024 EPS Estimates for Waste Connections, Inc. (NYSE:WCN) Decreased by Atb Cap Markets

Waste Connections, Inc. (NYSE:WCN) – Equities researchers at Atb Cap Markets cut their Q2 2024 earnings estimates for Waste Connections in a report released on Thursday, April 25th. Atb Cap Markets analyst C. Murray now expects that the business services provider will post earnings per share of $1.06 for the quarter, down from their previous forecast of $1.18. Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for Waste Connections’ current full-year earnings is $4.84 per share. Atb Cap Markets also issued estimates for Waste Connections’ Q3 2024 earnings at $1.21 EPS, FY2024 earnings at $4.53 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.38 EPS and FY2025 earnings at $5.07 EPS.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. Waste Connections’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS.

A number of other analysts have also recently commented on WCN. Wells Fargo & Company lifted their price target on Waste Connections from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Royal Bank of Canada decreased their target price on Waste Connections from $196.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, April 26th. BMO Capital Markets increased their price target on shares of Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. CIBC lifted their price objective on shares of Waste Connections from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Jefferies Financial Group increased their price objective on shares of Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.33.

Waste Connections Trading Down 1.5 %

NYSE:WCN opened at $162.17 on Monday. The company has a market capitalization of $41.84 billion, a P/E ratio of 52.65, a PEG ratio of 2.64 and a beta of 0.66. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. Waste Connections has a 12 month low of $126.12 and a 12 month high of $173.02. The firm has a fifty day simple moving average of $168.06 and a 200-day simple moving average of $152.66.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be paid a $0.285 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.70%. Waste Connections’s dividend payout ratio is presently 37.01%.

Insiders Place Their Bets

In other news, Director Andrea E. Bertone sold 902 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total value of $152,591.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Waste Connections

Several institutional investors have recently modified their holdings of WCN. Norges Bank acquired a new stake in Waste Connections in the 4th quarter worth about $592,392,000. Royal Bank of Canada boosted its stake in shares of Waste Connections by 20.5% in the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock worth $1,516,908,000 after acquiring an additional 1,920,302 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Waste Connections by 43.4% during the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after purchasing an additional 1,320,933 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Waste Connections by 57.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock worth $522,988,000 after purchasing an additional 1,281,418 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Waste Connections by 235.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock valued at $172,240,000 after purchasing an additional 809,914 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

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.