Waste Connections (NYSE:WCN) Price Target Lowered to $199.00 at Citigroup

Key Points

• Citigroup has lowered its target price for Waste Connections from $204.00 to $199.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 13.91% based on the stock's previous close.
• Several other analysts also adjusted their ratings on Waste Connections, with most naming it a "buy" or "outperform" while the consensus target price stands at $214.62.
• Waste Connections reported a quarterly earnings beat with an EPS of $1.29, surpassing the consensus estimate and showing a year-over-year revenue increase of 7.1%.

Waste Connections (NYSE:WCN - Get Free Report) had its price objective lowered by analysts at Citigroup from $204.00 to $199.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the business services provider's stock. Citigroup's price objective would suggest a potential upside of 14.26% from the company's current price.

A number of other analysts have also weighed in on WCN. Scotiabank raised their price objective on shares of Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Melius assumed coverage on shares of Waste Connections in a research note on Monday, June 9th. They set a "buy" rating for the company. CIBC reiterated an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada reduced their price target on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $213.00.

Waste Connections Trading Down 0.7%

Shares of NYSE:WCN traded down $1.25 on Wednesday, hitting $174.16. The company had a trading volume of 1,514,518 shares, compared to its average volume of 1,085,095. The firm's 50-day simple moving average is $183.37 and its two-hundred day simple moving average is $188.21. Waste Connections has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $44.78 billion, a price-to-earnings ratio of 70.23, a P/E/G ratio of 3.14 and a beta of 0.61.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same period last year, the company posted $1.24 EPS. Waste Connections's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Connections will post 5.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waste Connections

Hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC purchased a new stake in shares of Waste Connections in the second quarter valued at $28,000. Ramirez Asset Management Inc. raised its stake in shares of Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. Larson Financial Group LLC raised its stake in shares of Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after acquiring an additional 179 shares during the period. Global Financial Private Client LLC grew its holdings in shares of Waste Connections by 890.0% in the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after purchasing an additional 178 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new position in shares of Waste Connections in the second quarter worth about $39,000. 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.