Waste Connections (WCN) Set to Announce Quarterly Earnings on Wednesday

by · The Markets Daily

Waste Connections (NYSE:WCN – Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, October 23rd. Analysts expect Waste Connections to post earnings of $1.31 per share for the quarter. Waste Connections has set its FY 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Waste Connections (NYSE:WCN – Get Free Report) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the business earned $1.02 EPS. Waste Connections’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts expect Waste Connections to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Waste Connections Price Performance

Shares of WCN opened at $181.70 on Tuesday. Waste Connections has a 12-month low of $126.12 and a 12-month high of $187.54. The business’s fifty day moving average is $182.17 and its 200 day moving average is $174.92. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock has a market cap of $46.88 billion, a P/E ratio of 58.99, a P/E/G ratio of 2.90 and a beta of 0.72.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Insider Buying and Selling at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the transaction, the senior vice president now owns 4,321 shares of the company’s stock, valued at $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Susan Netherton sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total transaction of $358,260.00. Following the transaction, the senior vice president now owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the transaction, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. CIBC lifted their target price on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. Citigroup lifted their target price on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets lifted their target price on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.19.

Get Our Latest Stock Report on Waste Connections

Waste Connections Company Profile

(Get Free Report)

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.

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