Citigroup Issues Positive Forecast for Waste Connections (NYSE:WCN) Stock Price

Waste Connections (NYSE:WCN) had its price objective upped by Citigroup from $199.00 to $218.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Citigroup currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on WCN. Oppenheimer increased their target price on Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. CIBC reduced their price objective on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group decreased their target price on Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Finally, StockNews.com cut Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

Waste Connections Trading Up 0.1 %

WCN opened at $196.75 on Wednesday. The company has a fifty day moving average price of $188.19 and a two-hundred day moving average price of $183.13. Waste Connections has a 1-year low of $160.34 and a 1-year high of $197.74. The company has a market cap of $50.83 billion, a P/E ratio of 82.32, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. Analysts predict that Waste Connections will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Thursday, February 27th. Waste Connections’s payout ratio is 52.72%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCN. Wealth Enhancement Advisory Services LLC lifted its stake in Waste Connections by 29.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,932 shares of the business services provider’s stock worth $1,018,000 after purchasing an additional 1,357 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Waste Connections in the fourth quarter worth approximately $14,496,000. PKO Investment Management Joint Stock Co purchased a new stake in Waste Connections in the fourth quarter worth approximately $1,965,000. Mattson Financial Services LLC grew its position in Waste Connections by 5.2% during the fourth quarter. Mattson Financial Services LLC now owns 7,306 shares of the business services provider’s stock valued at $1,306,000 after acquiring an additional 358 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its stake in shares of Waste Connections by 5.5% during the fourth quarter. Integrated Advisors Network LLC now owns 1,562 shares of the business services provider’s stock worth $268,000 after acquiring an additional 81 shares in the last quarter. 86.09% of the stock is currently 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.