CIBC Issues Pessimistic Forecast for Waste Connections (NYSE:WCN) Stock Price

Waste Connections (NYSE:WCN) had its price objective reduced by analysts at CIBC from $215.00 to $212.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. CIBC’s price target would indicate a potential upside of 21.64% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Oppenheimer boosted their price objective on Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Raymond James reduced their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. BMO Capital Markets cut their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.69.

Waste Connections Trading Up 0.1 %

WCN opened at $174.28 on Thursday. The company has a market cap of $44.98 billion, a P/E ratio of 47.88, a PEG ratio of 3.08 and a beta of 0.74. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $183.67 and its 200-day moving average is $180.46. Waste Connections has a 1-year low of $145.35 and a 1-year high of $194.83.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $1.17 earnings per share. Equities research analysts predict that Waste Connections will post 4.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas bought a new stake in Waste Connections in the third quarter worth approximately $2,849,000. Tidal Investments LLC increased its stake in shares of Waste Connections by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 7,786 shares of the business services provider’s stock valued at $1,392,000 after acquiring an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Waste Connections in the 3rd quarter valued at $188,000. Virtu Financial LLC acquired a new position in shares of Waste Connections during the 3rd quarter valued at $1,586,000. Finally, TCW Group Inc. boosted its stake in Waste Connections by 6.7% during the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock worth $129,184,000 after acquiring an additional 45,215 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

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.