Analysts Expect Waste Connections Inc (WCN) Will Post Earnings of $0.60 Per Share

Equities research analysts expect that Waste Connections Inc (NYSE:WCN) will post earnings per share of $0.60 for the current quarter, Zacks reports. Five analysts have issued estimates for Waste Connections’ earnings. The highest EPS estimate is $0.62 and the lowest is $0.58. Waste Connections posted earnings of $0.56 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that Waste Connections will report full year earnings of $2.80 per share for the current financial year, with EPS estimates ranging from $2.74 to $2.89. For the next financial year, analysts forecast that the firm will post earnings of $3.10 per share, with EPS estimates ranging from $2.90 to $3.32. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Waste Connections.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 13th. The business services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Waste Connections had a return on equity of 10.46% and a net margin of 11.11%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis.

Several brokerages recently weighed in on WCN. Zacks Investment Research cut Waste Connections from a “hold” rating to a “sell” rating in a research note on Thursday. Stifel Nicolaus cut Waste Connections from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research note on Thursday, April 11th. UBS Group raised their target price on Waste Connections from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. TD Securities raised their target price on Waste Connections from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, February 15th. Finally, Royal Bank of Canada raised their target price on Waste Connections from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.64.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kings Point Capital Management purchased a new stake in Waste Connections in the 4th quarter worth about $78,000. Fox Run Management L.L.C. acquired a new position in Waste Connections in the 4th quarter worth about $425,000. DNB Asset Management AS increased its position in Waste Connections by 31.9% in the 4th quarter. DNB Asset Management AS now owns 35,821 shares of the business services provider’s stock worth $2,660,000 after purchasing an additional 8,654 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its position in Waste Connections by 80.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 103,066 shares of the business services provider’s stock worth $7,653,000 after purchasing an additional 45,902 shares during the last quarter. Finally, Tandem Investment Advisors Inc. acquired a new position in Waste Connections in the 4th quarter worth about $8,560,000. 84.78% of the stock is owned by institutional investors and hedge funds.

Shares of WCN stock opened at $88.55 on Tuesday. Waste Connections has a fifty-two week low of $70.28 and a fifty-two week high of $89.41. The stock has a market cap of $23.32 billion, a P/E ratio of 35.14, a PEG ratio of 3.04 and a beta of 0.25. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.65.

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.

Recommended Story: How to interpret a stock’s beta number

Get a free copy of the Zacks research report on Waste Connections (WCN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.