Raymond James Financial, Inc. Boosts Waste Connections, Inc. (NYSE:WCN) Price Target to $75.00
Waste Connections, Inc. (NYSE:WCN) had its target price hoisted by Raymond James Financial, Inc. from $74.00 to $75.00 in a research report sent to investors on Thursday. The brokerage currently has a strong-buy rating on the business services provider’s stock.
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Waste Connections from a strong-buy rating to a buy rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Waste Connections from a hold rating to a buy rating and set a $67.33 price objective on the stock in a report on Tuesday, April 25th. Credit Suisse Group reiterated a buy rating and issued a $75.00 price objective on shares of Waste Connections in a report on Friday, June 23rd. Barclays PLC reiterated a buy rating and issued a $68.00 price objective on shares of Waste Connections in a report on Friday, June 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Waste Connections from $66.50 to $75.00 and gave the stock a buy rating in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $68.51.
Waste Connections (NYSE:WCN) opened at 65.06 on Thursday. Waste Connections has a 12-month low of $47.81 and a 12-month high of $67.14. The company has a 50-day moving average price of $64.91 and a 200 day moving average price of $59.92. The stock has a market cap of $17.14 billion, a price-to-earnings ratio of 55.32 and a beta of 0.24.
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, topping analysts’ consensus estimates of $0.53 by $0.02. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was up 61.6% compared to the same quarter last year. On average, equities research analysts predict that Waste Connections will post $2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, August 4th. Waste Connections’s payout ratio is currently 40.56%.
In related news, Director Susan Lee bought 800 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was bought at an average price of $96.97 per share, with a total value of $77,576.00. Following the transaction, the director now owns 5,079 shares of the company’s stock, valued at $492,510.63. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, President Steven F. Bouck sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $96.05, for a total transaction of $1,440,750.00. The disclosure for this sale can be found here. Insiders sold a total of 24,400 shares of company stock valued at $2,350,516 in the last three months. Insiders own 0.68% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Spirit of America Management Corp NY acquired a new stake in shares of Waste Connections during the first quarter worth $110,000. Independent Portfolio Consultants Inc. increased its stake in shares of Waste Connections by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock worth $118,000 after buying an additional 168 shares in the last quarter. 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 worth $140,000 after buying an additional 271 shares in the last quarter. 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 worth $154,000 after buying an additional 1,656 shares in the last quarter. Finally, Capital One National Association acquired a new stake in shares of Waste Connections during the first quarter worth $208,000. 58.20% of the stock is owned by institutional investors.
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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