National Bankshares Has Lowered Expectations for Waste Connections (NYSE:WCN) Stock Price

Key Points

• National Bankshares has reduced its target price for Waste Connections (WCN) from $211.00 to $196.00, but maintains an "outperform" rating.
• Currently, Waste Connections' stock shows a potential upside of 13.12% from its current price, according to National Bankshares' revised target.
• As of the latest reports, Waste Connections has a consensus rating of "Buy," with five Strong Buy, twelve Buy, and five Hold ratings from different analysts.

Waste Connections (NYSE:WCN - Get Free Report) had its target price decreased by equities research analysts at National Bankshares from $211.00 to $196.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the business services provider's stock. National Bankshares' price objective would indicate a potential upside of 13.12% from the stock's current price.

Several other analysts also recently issued reports on WCN. CIBC reiterated an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Citigroup cut their price objective on Waste Connections from $204.00 to $199.00 and set a "neutral" rating for the company in a research report on Wednesday, September 17th. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Raymond James Financial set a $213.00 price objective on Waste Connections and gave the stock a "strong-buy" rating in a research report on Monday. Finally, Scotiabank boosted their price objective on Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $212.60.

Waste Connections Stock Down 0.5%

NYSE WCN traded down $0.89 on Tuesday, reaching $173.26. The stock had a trading volume of 367,639 shares, compared to its average volume of 1,129,378. The business has a 50 day moving average price of $180.93 and a 200 day moving average price of $187.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a market capitalization of $44.46 billion, a price-to-earnings ratio of 69.81, a P/E/G ratio of 3.15 and a beta of 0.62.

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

Institutional Investors Weigh In On Waste Connections

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Waste Connections by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 30,867,844 shares of the business services provider's stock valued at $5,764,546,000 after buying an additional 620,600 shares during the period. WCM Investment Management LLC increased its stake in shares of Waste Connections by 1.8% in the 2nd quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider's stock valued at $1,208,669,000 after buying an additional 117,939 shares during the period. Mackenzie Financial Corp increased its stake in shares of Waste Connections by 14.0% in the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider's stock valued at $975,190,000 after buying an additional 642,426 shares during the period. Norges Bank acquired a new stake in shares of Waste Connections in the 2nd quarter valued at $755,938,000. Finally, 1832 Asset Management L.P. increased its stake in shares of Waste Connections by 3.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider's stock valued at $746,054,000 after buying an additional 132,455 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

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.

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