Brokerages Expect Waste Connections Inc (NYSE:WCN) Will Announce Earnings of $0.62 Per Share

Equities research analysts expect Waste Connections Inc (NYSE:WCN) to report earnings per share of $0.62 for the current quarter, Zacks reports. Seven analysts have made estimates for Waste Connections’ earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.52. Waste Connections posted earnings of $0.69 per share during the same quarter last year, which indicates a negative year over year growth rate of 10.1%. The business is expected to report its next quarterly earnings report on Monday, August 3rd.

According to Zacks, analysts expect that Waste Connections will report full-year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.14 to $2.48. For the next financial year, analysts forecast that the firm will report earnings of $2.78 per share, with EPS estimates ranging from $2.44 to $3.11. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Waste Connections.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Waste Connections had a net margin of 10.63% and a return on equity of 10.71%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS.

A number of equities analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Waste Connections in a report on Wednesday, May 6th. They issued a “buy” rating and a $96.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Waste Connections from $98.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Raymond James reissued a “strong-buy” rating and issued a $106.00 price objective (up from $94.00) on shares of Waste Connections in a research note on Friday, May 8th. Deutsche Bank increased their price objective on shares of Waste Connections from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, UBS Group lowered their price objective on shares of Waste Connections from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.07.

In other Waste Connections news, CEO Worthing Jackman sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $92.26, for a total transaction of $1,660,680.00. Following the sale, the chief executive officer now directly owns 113,239 shares of the company’s stock, valued at approximately $10,447,430.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in shares of Waste Connections by 2.1% in the fourth quarter. Capital International Investors now owns 10,257,116 shares of the business services provider’s stock worth $931,244,000 after acquiring an additional 210,584 shares during the last quarter. BlackRock Inc. boosted its position in shares of Waste Connections by 2.0% in the first quarter. BlackRock Inc. now owns 8,806,311 shares of the business services provider’s stock worth $682,490,000 after acquiring an additional 174,565 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Waste Connections by 8.3% in the first quarter. The Manufacturers Life Insurance Company now owns 5,583,113 shares of the business services provider’s stock worth $428,339,000 after acquiring an additional 427,917 shares during the last quarter. Norges Bank acquired a new stake in shares of Waste Connections in the fourth quarter worth approximately $474,668,000. Finally, TD Asset Management Inc. boosted its position in shares of Waste Connections by 0.6% in the fourth quarter. TD Asset Management Inc. now owns 4,413,547 shares of the business services provider’s stock worth $401,323,000 after acquiring an additional 27,779 shares during the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of WCN traded up $1.36 during trading hours on Tuesday, reaching $91.97. The company had a trading volume of 642,500 shares, compared to its average volume of 1,188,487. The firm has a 50 day simple moving average of $92.30 and a 200-day simple moving average of $91.62. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 5.87 and a beta of 0.48. Waste Connections has a 12-month low of $70.87 and a 12-month high of $105.17.

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.

Further Reading: Gross Domestic Product (GDP)

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

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