Waste Connections Inc (NYSE:WCN) announced a quarterly dividend on Thursday, July 23rd, Zacks reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.185 per share by the business services provider on Tuesday, August 18th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, August 3rd.
Waste Connections has raised its dividend payment by an average of 7.6% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Waste Connections has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Waste Connections to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 26.2%.
WCN stock opened at $102.44 on Friday. The stock has a market capitalization of $26.78 billion, a P/E ratio of 46.56, a P/E/G ratio of 4.97 and a beta of 0.47. The firm has a 50-day simple moving average of $95.00 and a 200-day simple moving average of $92.63. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.78. Waste Connections has a 52 week low of $70.87 and a 52 week high of $105.17.
Waste Connections (NYSE:WCN) last released its earnings results on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. Waste Connections had a net margin of 10.63% and a return on equity of 10.71%. The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. On average, analysts expect that Waste Connections will post 2.39 earnings per share for the current year.
In other news, CEO Worthing Jackman sold 18,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $92.26, for a total value of $1,660,680.00. Following the transaction, the chief executive officer now directly owns 113,239 shares in the company, valued at approximately $10,447,430.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company's stock.
Several brokerages recently issued reports on WCN. Deutsche Bank upped their price objective on shares of Waste Connections from $96.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Raymond James upped their price objective on shares of Waste Connections from $106.00 to $114.00 and gave the company a "strong-buy" rating in a research note on Wednesday. Royal Bank of Canada upped their price objective on shares of Waste Connections from $98.00 to $106.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Oppenheimer upped their price objective on shares of Waste Connections from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Finally, BMO Capital Markets upped their price objective on shares of Waste Connections from $104.00 to $106.00 in a research note on Friday, July 10th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Waste Connections has an average rating of "Buy" and a consensus target price of $107.93.
About Waste Connections
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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