Waste Connections (NYSE:WCN) Given New $196.00 Price Target at Citigroup

Key Points

• Citigroup has reduced its price target for Waste Connections from $199.00 to $196.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 9.90% from the previous close.
• In addition to Citigroup's downgrade, several analysts have varying opinions on Waste Connections, with price targets ranging from $190.00 to $221.00 and the consensus rating being a "Buy" with an average target price of $210.19.
• The company's recent earnings report showed a 5.1% year-over-year revenue increase, with earnings per share of $1.44, surpassing analyst estimates by $0.06.

Waste Connections (NYSE:WCN - Get Free Report) had its price target dropped by research analysts at Citigroup from $199.00 to $196.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. Citigroup's target price suggests a potential upside of 9.90% from the stock's previous close.

Several other research analysts have also issued reports on the company. Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a "strong-buy" rating in a research report on Monday, October 6th. Stifel Nicolaus started coverage on Waste Connections in a research report on Tuesday, September 30th. They issued a "buy" rating and a $221.00 price target on the stock. CIBC reiterated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. UBS Group set a $190.00 target price on Waste Connections and gave the stock a "neutral" rating in a report on Thursday, October 16th. Finally, Scotiabank set a $208.00 target price on Waste Connections in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $210.19.

Waste Connections Stock Up 2.6%

NYSE WCN opened at $178.35 on Thursday. Waste Connections has a 52 week low of $169.36 and a 52 week high of $201.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $45.76 billion, a P/E ratio of 74.31, a price-to-earnings-growth ratio of 3.16 and a beta of 0.62. The stock has a fifty day moving average of $177.27 and a 200-day moving average of $185.54.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a return on equity of 16.08% and a net margin of 6.65%.The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company earned $1.35 EPS. The firm's revenue was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Waste Connections will post 5.28 EPS for the current year.

Institutional Trading of Waste Connections

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tribridge Partners Financial LLC acquired a new stake in shares of Waste Connections in the third quarter valued at about $209,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Waste Connections in the third quarter valued at about $339,000. JARISLOWSKY FRASER Ltd increased its position in shares of Waste Connections by 26.4% in the third quarter. JARISLOWSKY FRASER Ltd now owns 3,384 shares of the business services provider's stock valued at $595,000 after acquiring an additional 706 shares during the last quarter. Generali Asset Management SPA SGR increased its position in Waste Connections by 358.3% during the third quarter. Generali Asset Management SPA SGR now owns 1,833 shares of the business services provider's stock worth $322,000 after buying an additional 1,433 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in Waste Connections during the third quarter worth approximately $471,000. Institutional investors and hedge funds 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.

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