Waste Connections (NYSE:WCN) Trading Up 0% After Better-Than-Expected Earnings

Waste Connections, Inc. (NYSE:WCN) shares shot up 0% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $166.85 and last traded at $166.18. 135,824 shares traded hands during trading, a decline of 85% from the average session volume of 889,502 shares. The stock had previously closed at $166.17.

The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.05 billion. Waste Connections had a return on equity of 14.76% and a net margin of 9.70%. Waste Connections’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share.

Waste Connections Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on WCN shares. Wells Fargo & Company increased their price objective on Waste Connections from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Jefferies Financial Group raised their price objective on shares of Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. CIBC lifted their target price on shares of Waste Connections from $175.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada started coverage on shares of Waste Connections in a research note on Monday, April 8th. They set an “outperform” rating and a $196.00 target price on the stock. Finally, Scotiabank lifted their target price on shares of Waste Connections from $146.50 to $179.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.87.

Insider Activity at Waste Connections

In related news, Director Andrea E. Bertone sold 902 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total value of $152,591.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WCN. Pacifica Partners Inc. acquired a new stake in Waste Connections in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its position in Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares in the last quarter. Headinvest LLC acquired a new stake in Waste Connections in the third quarter valued at approximately $36,000. Operose Advisors LLC acquired a new stake in Waste Connections in the third quarter valued at approximately $40,000. Finally, Rational Advisors LLC acquired a new stake in Waste Connections in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50-day simple moving average is $168.31 and its 200-day simple moving average is $151.92. The company has a market cap of $42.24 billion, a price-to-earnings ratio of 53.63, a P/E/G ratio of 2.72 and a beta of 0.66.

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.