$0.56 Earnings Per Share Expected for Waste Connections Inc (WCN) This Quarter

Equities analysts expect that Waste Connections Inc (NYSE:WCN) will post $0.56 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Waste Connections’ earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.58. Waste Connections posted earnings per share of $0.49 in the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Waste Connections will report full-year earnings of $2.53 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.60. For the next fiscal year, analysts anticipate that the business will post earnings of $2.86 per share, with EPS estimates ranging from $2.75 to $2.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Waste Connections.

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Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Waste Connections had a net margin of 12.46% and a return on equity of 9.63%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company earned $0.46 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year.

Several brokerages have recently commented on WCN. BMO Capital Markets restated a “buy” rating and issued a $80.00 target price on shares of Waste Connections in a research note on Thursday. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. UBS began coverage on shares of Waste Connections in a research note on Thursday, March 15th. They issued a “buy” rating and a $91.00 target price on the stock. Credit Suisse Group restated an “outperform” rating on shares of Waste Connections in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $85.00 target price on shares of Waste Connections in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $79.28.

In related news, Director Michael W. Harlan sold 11,500 shares of Waste Connections stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $72.03, for a total value of $828,345.00. Following the completion of the transaction, the director now directly owns 42,685 shares of the company’s stock, valued at $3,074,600.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald J. Mittelstaedt sold 45,000 shares of Waste Connections stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $73.32, for a total value of $3,299,400.00. Following the completion of the transaction, the chief executive officer now directly owns 100,462 shares of the company’s stock, valued at $7,365,873.84. The disclosure for this sale can be found here. Insiders sold 67,571 shares of company stock valued at $4,911,600 over the last ninety days. 0.68% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in WCN. Carillon Tower Advisers Inc. bought a new position in shares of Waste Connections in the fourth quarter valued at about $145,602,000. Picton Mahoney Asset Management raised its holdings in shares of Waste Connections by 1,175.8% in the fourth quarter. Picton Mahoney Asset Management now owns 1,286,014 shares of the business services provider’s stock valued at $112,875,000 after buying an additional 1,185,214 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Waste Connections by 28.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,856,170 shares of the business services provider’s stock valued at $273,557,000 after buying an additional 864,008 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Waste Connections by 39.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,786,911 shares of the business services provider’s stock valued at $197,732,000 after buying an additional 794,700 shares during the last quarter. Finally, Ascend Capital LLC raised its holdings in shares of Waste Connections by 200.4% in the fourth quarter. Ascend Capital LLC now owns 931,327 shares of the business services provider’s stock valued at $66,067,000 after buying an additional 621,290 shares during the last quarter. 84.21% of the stock is owned by institutional investors and hedge funds.

WCN opened at $72.75 on Friday. Waste Connections has a fifty-two week low of $58.33 and a fifty-two week high of $74.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $18,957.56, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 2.64 and a beta of 0.18.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. Waste Connections’s dividend payout ratio is 25.93%.

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Waste Connections Company Profile

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

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Earnings History and Estimates for Waste Connections (NYSE:WCN)

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