Waste Connections (NYSE:WCN) Price Target Raised to $212.00

Waste Connections (NYSE:WCN) had its price target raised by Stifel Nicolaus from $205.00 to $212.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets decreased their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer lifted their price objective on Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Raymond James lowered their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Finally, Scotiabank initiated coverage on shares of Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective for the company. Five 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.88.

Waste Connections Trading Down 2.4 %

Shares of NYSE:WCN opened at $179.91 on Wednesday. The stock’s 50-day simple moving average is $184.05 and its two-hundred day simple moving average is $179.91. The stock has a market capitalization of $46.43 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 3.08 and a beta of 0.74. Waste Connections has a 52-week low of $144.69 and a 52-week high of $194.83. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm posted $1.17 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. Analysts expect that Waste Connections will post 4.84 EPS for the current 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. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.70%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WCN. Global Trust Asset Management LLC bought a new position in shares of Waste Connections during the 3rd quarter valued at approximately $36,000. FSA Wealth Management LLC purchased a new position in Waste Connections during the third quarter worth $40,000. Continuum Advisory LLC increased its position in Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 83 shares during the last quarter. Asset Dedication LLC purchased a new stake in shares of Waste Connections in the third quarter valued at $41,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of Waste Connections in the 2nd quarter worth about $45,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

About Waste Connections

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.