Waste Connections (NYSE:WCN) Releases Earnings Results, Beats Estimates By $0.07 EPS

Waste Connections (NYSE:WCN) announced its quarterly earnings data on Wednesday. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07, Briefing.com reports. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. Waste Connections updated its FY 2020
After-Hours guidance to EPS.

Waste Connections stock traded up $0.40 during midday trading on Friday, hitting $103.20. 293,211 shares of the company were exchanged, compared to its average volume of 689,880. The firm has a market capitalization of $27.11 billion, a PE ratio of 48.22, a price-to-earnings-growth ratio of 3.86 and a beta of 0.08. Waste Connections has a fifty-two week low of $80.66 and a fifty-two week high of $103.39. The business has a fifty day simple moving average of $96.03 and a two-hundred day simple moving average of $92.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.72%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, February 26th. Waste Connections’s dividend payout ratio (DPR) is 29.37%.

A number of research analysts have recently weighed in on the company. Raymond James increased their price objective on Waste Connections from $109.00 to $117.00 and gave the company a “strong-buy” rating in a report on Friday. ValuEngine raised Waste Connections from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada reissued a “buy” rating and issued a $100.00 price objective on shares of Waste Connections in a report on Sunday, December 15th. CIBC set a $99.00 price objective on Waste Connections and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on Waste Connections in a report on Wednesday, November 27th. They issued a “buy” rating and a $106.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $104.02.

In related news, VP David Eddie sold 934 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $90.55, for a total transaction of $84,573.70. Following the sale, the vice president now directly owns 41,023 shares of the company’s stock, valued at $3,714,632.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

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 for Waste Connections (NYSE:WCN)

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