Atb Cap Markets Has Bullish Outlook for WCN FY2024 Earnings

Waste Connections, Inc. (NYSE:WCN) – Stock analysts at Atb Cap Markets boosted their FY2024 EPS estimates for shares of Waste Connections in a note issued to investors on Thursday, October 24th. Atb Cap Markets analyst C. Murray now anticipates that the business services provider will post earnings per share of $4.82 for the year, up from their prior estimate 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.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.05. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share.

A number of other analysts have also recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Raymond James lowered their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research report on Friday. Royal Bank of Canada lifted their price objective on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen increased their target price on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Truist Financial lifted their price target on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Six 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $195.56.

Waste Connections Stock Down 1.5 %

WCN opened at $175.80 on Monday. Waste Connections has a twelve month low of $126.12 and a twelve month high of $187.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The business has a 50 day moving average price of $181.95 and a 200 day moving average price of $175.22. The firm has a market cap of $45.37 billion, a P/E ratio of 52.63, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.72%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is presently 34.13%.

Insiders Place Their Bets

In related news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction that occurred on 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 owns 48,899 shares in the company, valued at $8,706,466.95. 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 through the SEC website. In other news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares in the company, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now directly owns 48,899 shares in the company, valued at $8,706,466.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,600 shares of company stock worth $3,842,550 over the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its holdings in shares of Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 86 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at $36,000. Asset Dedication LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at $41,000. Pathway Financial Advisers LLC bought a new stake in shares of Waste Connections during the first quarter worth $43,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Waste Connections during the second quarter valued at $45,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Company Profile

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.