Waste Connections Inc (NYSE:WCN) Receives Average Recommendation of “Buy” from Analysts

Waste Connections Inc (NYSE:WCN) has been given an average recommendation of “Buy” by the sixteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $97.75.

Several equities research analysts recently weighed in on the company. BMO Capital Markets set a $76.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research note on Monday, July 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday. Raymond James set a $33.00 price target on LKQ and gave the stock a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada set a $147.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th.

Shares of WCN traded down $1.27 during mid-day trading on Tuesday, hitting $94.58. 833,095 shares of the company’s stock traded hands, compared to its average volume of 633,013. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. Waste Connections has a 1 year low of $70.28 and a 1 year high of $97.93. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.76 and a beta of 0.21. The business has a 50-day simple moving average of $95.18.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Equities research analysts forecast that Waste Connections will post 2.75 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in Waste Connections by 8.5% in the second quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the business services provider’s stock worth $1,334,000 after buying an additional 1,095 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in Waste Connections by 48.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,144 shares of the business services provider’s stock worth $400,000 after buying an additional 1,350 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in Waste Connections by 15.4% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 24,090 shares of the business services provider’s stock worth $2,302,000 after buying an additional 3,220 shares in the last quarter. Tandem Investment Advisors Inc. increased its position in Waste Connections by 21.0% in the second quarter. Tandem Investment Advisors Inc. now owns 135,884 shares of the business services provider’s stock worth $12,988,000 after buying an additional 23,615 shares in the last quarter. Finally, NEXT Financial Group Inc purchased a new stake in Waste Connections in the second quarter worth about $311,000. 83.30% of the stock is currently owned by institutional investors and hedge funds.

About Waste Connections

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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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