Equities research analysts expect that Waste Connections Inc (NYSE:WCN) will announce sales of $1.38 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Waste Connections’ earnings, with the lowest sales estimate coming in at $1.37 billion and the highest estimate coming in at $1.40 billion. Waste Connections reported sales of $1.41 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, October 28th.

According to Zacks, analysts expect that Waste Connections will report full year sales of $5.37 billion for the current financial year, with estimates ranging from $5.32 billion to $5.44 billion. For the next financial year, analysts forecast that the business will report sales of $5.82 billion, with estimates ranging from $5.64 billion to $5.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Waste Connections.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Waste Connections had a return on equity of 10.44% and a net margin of 3.83%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share.

Several research analysts recently weighed in on WCN shares. Stifel Nicolaus raised their target price on Waste Connections from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Royal Bank of Canada raised their target price on Waste Connections from $109.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Jefferies Financial Group raised their target price on Waste Connections from $106.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. raised Waste Connections from a “neutral” rating to an “overweight” rating and raised their target price for the company from $103.00 to $108.00 in a research note on Wednesday, September 23rd. Finally, KeyCorp raised their target price on Waste Connections from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $109.93.

In other Waste Connections news, Chairman Ronald J. Mittelstaedt sold 48,814 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $100.19, for a total transaction of $4,890,674.66. Following the completion of the sale, the chairman now directly owns 142,811 shares in the company, valued at approximately $14,308,234.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Little sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $101.95, for a total value of $509,750.00. Following the sale, the vice president now owns 22,014 shares of the company’s stock, valued at $2,244,327.30. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors L.P. boosted its position in Waste Connections by 37.1% during the 2nd quarter. Natixis Advisors L.P. now owns 131,157 shares of the business services provider’s stock worth $12,301,000 after acquiring an additional 35,480 shares during the period. State Street Corp raised its stake in shares of Waste Connections by 6.7% during the 1st quarter. State Street Corp now owns 2,903,787 shares of the business services provider’s stock worth $225,044,000 after purchasing an additional 183,213 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Waste Connections by 37.0% during the 1st quarter. AQR Capital Management LLC now owns 63,782 shares of the business services provider’s stock worth $4,943,000 after purchasing an additional 17,235 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Waste Connections by 13.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 93,952 shares of the business services provider’s stock worth $8,812,000 after purchasing an additional 11,122 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Waste Connections by 560.8% during the 1st quarter. Jane Street Group LLC now owns 27,312 shares of the business services provider’s stock worth $2,116,000 after purchasing an additional 23,179 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Shares of WCN opened at $104.14 on Friday. The stock’s fifty day moving average is $101.74 and its 200-day moving average is $94.96. Waste Connections has a one year low of $70.87 and a one year high of $106.09. The firm has a market capitalization of $27.38 billion, a price-to-earnings ratio of 133.51, a price-to-earnings-growth ratio of 4.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.45.

Waste Connections Company Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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

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