Credit Suisse Group Analysts Give Waste Connections, Inc. (NYSE:WCN) a $75.00 Price Target
Credit Suisse Group set a $75.00 target price on Waste Connections, Inc. (NYSE:WCN) in a research report sent to investors on Thursday. The brokerage currently has a buy rating on the business services provider’s stock.
A number of other research analysts have also commented on WCN. Royal Bank Of Canada upped their price objective on Waste Connections from $74.00 to $76.00 and gave the company an outperform rating in a report on Thursday. Raymond James Financial, Inc. upped their price objective on Waste Connections from $74.00 to $75.00 and gave the company a strong-buy rating in a report on Thursday. Barclays PLC set a $70.00 price objective on Waste Connections and gave the company a buy rating in a report on Wednesday, July 26th. TD Securities upped their price objective on Waste Connections from $67.00 to $73.00 and gave the company a hold rating in a report on Thursday. Finally, BidaskClub lowered Waste Connections from a strong-buy rating to a buy rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Waste Connections presently has a consensus rating of Buy and an average target price of $68.51.
Waste Connections (NYSE WCN) opened at 65.06 on Thursday. The company has a market capitalization of $17.14 billion, a PE ratio of 55.32 and a beta of 0.24. The company has a 50-day moving average price of $64.91 and a 200 day moving average price of $59.92. Waste Connections has a 12 month low of $47.81 and a 12 month high of $67.14.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 61.6% on a year-over-year basis. On average, equities research analysts forecast that Waste Connections will post $2.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. Waste Connections’s dividend payout ratio is currently 40.56%.
In related news, Director Michael W. Harlan sold 3,400 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $96.49, for a total transaction of $328,066.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan Lee acquired 800 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were acquired at an average price of $96.97 per share, with a total value of $77,576.00. Following the completion of the transaction, the director now owns 5,079 shares in the company, valued at $492,510.63. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 24,400 shares of company stock valued at $2,350,516. 0.68% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Spirit of America Management Corp NY acquired a new stake in shares of Waste Connections during the first quarter valued at $110,000. Independent Portfolio Consultants Inc. acquired a new stake in shares of Waste Connections during the first quarter valued at $147,000. US Bancorp DE increased its stake in shares of Waste Connections by 14.3% in the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after buying an additional 271 shares in the last quarter. Capital One National Association acquired a new stake in shares of Waste Connections during the first quarter valued at $208,000. Finally, Creative Planning increased its stake in shares of Waste Connections by 223.5% in the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after buying an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 58.20% of the company’s stock.
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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