FY2024 EPS Forecast for Waste Connections Boosted by Analyst

Waste Connections, Inc. (NYSE:WCN - Free Report) - Investment analysts at Atb Cap Markets lifted their FY2024 earnings per share estimates for Waste Connections in a research note issued to investors on Thursday, October 24th. Atb Cap Markets analyst C. Murray now anticipates that the business services provider will earn $4.82 per share for the year, up from their previous forecast of $4.80. The consensus estimate for Waste Connections' current full-year earnings is $4.82 per share. Atb Cap Markets also issued estimates for Waste Connections' Q1 2026 earnings at $1.23 EPS, Q2 2026 earnings at $1.55 EPS, Q3 2026 earnings at $1.59 EPS and FY2026 earnings at $5.89 EPS.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a "buy" rating and set a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a research report on Friday. Citigroup increased their target price on shares of Waste Connections from $190.00 to $195.00 and gave the stock a "neutral" rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price target on Waste Connections from $198.00 to $197.00 and set an "overweight" rating on the stock in a report on Friday. Scotiabank started coverage on Waste Connections in a report on Friday, October 4th. They issued a "sector perform" rating and a $196.00 price objective for the company. Finally, TD Cowen lifted their price objective on Waste Connections from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $195.56.

Waste Connections Trading Up 0.6 %

Shares of Waste Connections stock traded up $1.14 on Monday, hitting $176.94. The stock had a trading volume of 719,321 shares, compared to its average volume of 881,201. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections has a one year low of $128.41 and a one year high of $187.54. The stock's 50-day simple moving average is $181.84 and its two-hundred day simple moving average is $175.29. The stock has a market cap of $45.66 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 2.98 and a beta of 0.72.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. This is an increase from Waste Connections's previous quarterly dividend of $0.29. The ex-dividend date is Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.71%. Waste Connections's dividend payout ratio (DPR) is currently 34.13%.

Insider Activity

In related news, SVP Robert Nielsen III sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares of the company's stock, valued at $778,428.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total transaction of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares of the company's stock, valued at approximately $778,428.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the transaction, the chief financial officer now directly owns 48,899 shares of the company's stock, valued at $8,706,466.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,600 shares of company stock worth $3,842,550. Insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Waste Connections

Several institutional investors have recently modified their holdings of WCN. Vanguard Group Inc. grew its stake in shares of Waste Connections by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider's stock valued at $4,902,110,000 after purchasing an additional 88,137 shares during the period. Bank of Montreal Can boosted its stake in shares of Waste Connections by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 8,103,895 shares of the business services provider's stock worth $1,423,373,000 after acquiring an additional 178,870 shares during the last quarter. Alphinity Investment Management Pty Ltd grew its position in shares of Waste Connections by 8.3% during the 1st quarter. Alphinity Investment Management Pty Ltd now owns 2,516,867 shares of the business services provider's stock valued at $432,926,000 after acquiring an additional 193,787 shares during the period. Fiera Capital Corp increased its stake in shares of Waste Connections by 0.7% in the 2nd quarter. Fiera Capital Corp now owns 2,189,251 shares of the business services provider's stock worth $384,268,000 after purchasing an additional 15,623 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Waste Connections by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 1,690,733 shares of the business services provider's stock worth $296,510,000 after purchasing an additional 71,681 shares during the period. 86.09% of the stock is 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.