Waste Connections (NYSE:WCN) Earns Buy Rating from Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus has initiated coverage on Waste Connections with a "buy" rating and a price target of $221.00, suggesting a potential upside of 25.56% from the previous close.
• Other analysts, like Melius Research and Oppenheimer, have also provided positive ratings, with many analysts giving the stock a consensus rating of "Buy" and an average target price of $213.64.
• Waste Connections reported strong financial results with $1.29 earnings per share for the last quarter, exceeding estimates, and a revenue increase of 7.1% year-over-year.

Investment analysts at Stifel Nicolaus initiated coverage on shares of Waste Connections (NYSE:WCN - Get Free Report) in a research note issued to investors on Tuesday. The brokerage set a "buy" rating and a $221.00 price target on the business services provider's stock. Stifel Nicolaus' price objective points to a potential upside of 25.56% from the company's previous close.

Other equities analysts have also issued reports about the company. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 target price on the stock in a research report on Monday, June 9th. Oppenheimer upped their price target on Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Scotiabank upped their price target on Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Royal Bank Of Canada dropped their price target on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Finally, Melius assumed coverage on Waste Connections in a research report on Monday, June 9th. They issued a "buy" rating on the stock. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $213.64.

Waste Connections Trading Up 1.0%

Shares of NYSE:WCN traded up $1.71 during trading on Tuesday, reaching $176.01. 36,491 shares of the stock were exchanged, compared to its average volume of 1,132,930. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections has a 12-month low of $169.36 and a 12-month high of $201.66. The firm has a market cap of $45.16 billion, a price-to-earnings ratio of 70.84, a price-to-earnings-growth ratio of 3.11 and a beta of 0.61. The firm's 50-day moving average price is $182.10 and its 200 day moving average price is $187.70.

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

Institutional Investors Weigh In On Waste Connections

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC acquired a new stake in Waste Connections in the 2nd quarter valued at approximately $28,000. Ramirez Asset Management Inc. boosted its stake in Waste Connections by 122.0% in the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Larson Financial Group LLC boosted its stake in Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after buying an additional 179 shares in the last quarter. AlphaCore Capital LLC acquired a new stake in Waste Connections in the 2nd quarter valued at $39,000. Finally, Valley National Advisers Inc. boosted its stake in Waste Connections by 232.3% in the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after buying an additional 151 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

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.

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