By otakuyassine3@gmail.com 
Waste Connections (NYSE:WCN – Get Free Report) had its price target lowered by equities research analysts at CIBC from $215.00 to $212.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. CIBC’s price target would indicate a potential upside of 21.09% from the company’s current price.
Other analysts have also issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price target on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Citigroup increased their price objective on Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. BMO Capital Markets lowered their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Scotiabank assumed coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.69.
Read Our Latest Stock Analysis on Waste Connections
Waste Connections Stock Up 0.2 %
Shares of NYSE WCN traded up $0.42 during trading on Thursday, hitting $175.08. The stock had a trading volume of 312,397 shares, compared to its average volume of 894,143. The firm has a fifty day moving average of $183.93 and a two-hundred day moving average of $180.43. The company has a market capitalization of $45.18 billion, a PE ratio of 48.10, a PEG ratio of 3.08 and a beta of 0.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. Waste Connections has a 12 month low of $145.35 and a 12 month high of $194.83.
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business posted $1.17 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Waste Connections will post 4.84 EPS for the current fiscal year.
Institutional Trading of Waste Connections
Several institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in shares of Waste Connections by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 8,103,895 shares of the business services provider’s stock valued at $1,423,373,000 after acquiring an additional 178,870 shares during the last quarter. FMR LLC lifted its position in Waste Connections by 0.6% in the third quarter. FMR LLC now owns 5,313,725 shares of the business services provider’s stock valued at $950,055,000 after purchasing an additional 30,890 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Waste Connections by 35.3% during the third quarter. National Bank of Canada FI now owns 2,678,562 shares of the business services provider’s stock valued at $478,777,000 after purchasing an additional 699,012 shares during the period. Fiera Capital Corp grew its holdings in Waste Connections by 6.5% in the 3rd quarter. Fiera Capital Corp now owns 2,332,002 shares of the business services provider’s stock worth $417,385,000 after acquiring an additional 142,751 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its holdings in Waste Connections by 15.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 2,303,339 shares of the business services provider’s stock valued at $401,936,000 after purchasing an additional 309,619 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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