Waste Connections (NYSE:WCN) Price Target Cut to $212.00 by Analysts at CIBC

Waste Connections (NYSE:WCN) had its price target dropped by equities research analysts at CIBC from $215.00 to $212.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the business services provider’s stock. CIBC’s target price would suggest a potential upside of 21.09% from the company’s previous close.

WCN has been the subject of several other reports. Oppenheimer raised their price target on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus upped their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BMO Capital Markets reduced their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada upped their price objective on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Raymond James reduced their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.69.

Waste Connections Stock Up 0.2 %

WCN stock traded up $0.42 during midday 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 company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of 48.10, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The business has a 50-day moving average of $183.93 and a two-hundred day moving average of $180.43. Waste Connections has a 52-week low of $145.35 and a 52-week high of $194.83.

Waste Connections (NYSE:WCN) last announced 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. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The business’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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waste Connections

Several institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its holdings in shares of Waste Connections by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 8,103,895 shares of the business services provider’s stock worth $1,423,373,000 after acquiring an additional 178,870 shares in the last quarter. FMR LLC increased 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 worth $950,055,000 after purchasing an additional 30,890 shares during the last quarter. National Bank of Canada FI raised its stake in 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 in the last quarter. Fiera Capital Corp lifted its position in Waste Connections by 6.5% during the third quarter. Fiera Capital Corp now owns 2,332,002 shares of the business services provider’s stock valued at $417,385,000 after purchasing an additional 142,751 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its stake in shares of Waste Connections by 15.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 2,303,339 shares of the business services provider’s stock worth $401,936,000 after buying an additional 309,619 shares in the last quarter. Hedge funds and other institutional investors 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.