Scotiabank Cuts Waste Connections (NYSE:WCN) Price Target to $204.00

by · The Markets Daily

Waste Connections (NYSE:WCN – Free Report) had its target price decreased by Scotiabank from $210.00 to $204.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. Scotiabank currently has a sector outperform rating on the business services provider’s stock.

A number of other analysts have also commented on the company. UBS Group set a $205.00 price target on Waste Connections in a report on Monday, January 5th. The Goldman Sachs Group began coverage on Waste Connections in a research report on Monday, November 24th. They issued a “buy” rating and a $202.00 target price on the stock. Stifel Nicolaus cut their target price on Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Finally, CIBC set a $208.00 price objective on shares of Waste Connections in a report on Thursday, January 8th. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $206.68.

Read Our Latest Analysis on Waste Connections

Waste Connections Stock Up 0.1%

Waste Connections stock opened at $170.25 on Wednesday. The company has a 50 day moving average of $172.63 and a 200-day moving average of $176.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections has a twelve month low of $162.06 and a twelve month high of $201.66. The stock has a market capitalization of $43.53 billion, a PE ratio of 70.94, a price-to-earnings-growth ratio of 3.08 and a beta of 0.63.

Waste Connections (NYSE:WCN – Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.35 earnings per share. On average, equities research analysts anticipate that Waste Connections will post 5.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the sale, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

Institutional Trading of Waste Connections

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Waste Connections during the second quarter worth $755,938,000. Wellington Management Group LLP boosted its holdings in shares of Waste Connections by 39.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock valued at $783,218,000 after acquiring an additional 1,264,150 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Waste Connections by 17.6% during the 3rd quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock valued at $1,078,536,000 after acquiring an additional 918,245 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Waste Connections during the 2nd quarter worth $140,935,000. Finally, Montrusco Bolton Investments Inc. increased its holdings in Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock worth $419,451,000 after purchasing an additional 732,718 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

(Get Free Report)

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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