Waste Connections (NYSE:WCN) Reaches New 12-Month High – Should You Buy?

by · The Cerbat Gem

Waste Connections, Inc. (NYSE:WCN – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $188.47 and last traded at $187.04, with a volume of 19441 shares trading hands. The stock had previously closed at $187.50.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Raymond James dropped their target price on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Oppenheimer lifted their target price on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Citigroup upped their price target on Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Finally, CIBC boosted their target price on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

Get Our Latest Analysis on WCN

Waste Connections Price Performance

The business has a fifty day moving average price of $180.90 and a 200 day moving average price of $177.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 3.06 and a beta of 0.72.

Waste Connections (NYSE:WCN – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.315 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.68%. Waste Connections’s dividend payout ratio (DPR) is 34.62%.

Hedge Funds Weigh In On Waste Connections

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCN. Global Trust Asset Management LLC purchased a new position in shares of Waste Connections during the third quarter valued at $36,000. FSA Wealth Management LLC purchased a new position in Waste Connections during the 3rd quarter valued at about $40,000. Continuum Advisory LLC increased its holdings in shares of Waste Connections by 58.0% in the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 83 shares during the period. Asset Dedication LLC purchased a new stake in shares of Waste Connections in the third quarter worth approximately $41,000. Finally, Pathway Financial Advisers LLC purchased a new position in Waste Connections during the first quarter valued at approximately $43,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

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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