Waste Connections (NYSE:WCN) Stock, Quote.Headers.trade-ideas

Waste Connections

Waste Connections is the third-largest integrated provider of traditional solid waste and recycling services in the North America, operating 103 active landfills (9 are exploration and production waste landfills and 16 are nonmunicipal waste landfills), 157 transfer stations, and 81 recycling operations. The firm serves residential, commercial, industrial, and energy end markets. Waste Connections entered the Canadian market with its 2016 merger with Progressive Waste. In 2023, 12% of consolidated revenue was generated from the firm's Canadian segment.

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Waste Connections Inc

Oppenheimer analyst Noah Kaye maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and raises the price target from $192 to $195.

Oppenheimer Maintains Outperform on Waste Connections, Raises Price Target to $195

Morgan Stanley analyst Toni Kaplan maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Overweight and raises the price target from $206 to $214.

Morgan Stanley Maintains Overweight on Waste Connections, Raises Price Target to $214

Stifel analyst Brian Butler maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Buy and raises the price target from $205 to $212.

Stifel Maintains Buy on Waste Connections, Raises Price Target to $212

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup raised Eli Lilly and Company  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) price target from $1,060 to $1,250. Citigroup analyst Peter Verdult maintained a Buy rating. Eli Lilly shares closed at $891.32 on Thursday. See how other analysts view this stock.</li>
<li>RBC Capital cut the price target for Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) from $76 to $74. RBC Capital analyst Mike Dahl maintained an Underperform rating. Whirlpool shares closed at $110.37 on Thursday. <a href="https://www.benzinga.com/quote/WHR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Maxim Group raised the price target for LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) from $16 to $19. Maxim Group analyst Michael Diana maintained a Buy rating. LendingClub shares closed at $13.82 on Thursday. <a href="https://www.benzinga.com/quote/LC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank raised Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) price target from $83 to $84. Deutsche Bank analyst Krisztina Katai maintained a Buy rating. Skechers shares settled at $61.63 on Thursday. <a href="https://www.benzinga.com/quote/SKX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James cut Waste Connections, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) price target from $208 to $205. Raymond James analyst Patrick Tyler Brown maintained a Strong Buy rating. Waste Connections shares closed at $178.56 on Thursday. <a href="https://www.benzinga.com/quote/WCN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan cut Keurig Dr Pepper Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>) price target from $41 to $40. JP Morgan analyst Andrea Teixeira maintained an Overweight rating. Keurig Dr Pepper shares closed at $34.94 on Thursday. <a href="https://www.benzinga.com/quote/KDP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Cantor Fitzgerald cut the price target for Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) from $22 to $10. Cantor Fitzgerald analyst Yi Fu Lee maintained an Overweight rating. Coursera shares settled at $7.62 on Thursday. <a href="https://www.benzinga.com/quote/COUR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel slashed Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) price target from $265 to $262. Stifel analyst Benjamin Nolan maintained a Buy rating. Union Pacific shares closed at $230.75 on Thursday. <a href="https://www.benzinga.com/quote/UNP/analyst-ratings">See how other analysts view this stock</a>.</li>
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Raymond James analyst Patrick Tyler Brown maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Strong Buy and lowers the price target from $208 to $205.

Raymond James Maintains Strong Buy on Waste Connections, Lowers Price Target to $205

RBC Capital analyst Sabahat Khan maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and raises the price target from $199 to $201.

RBC Capital Maintains Outperform on Waste Connections, Raises Price Target to $201

JP Morgan analyst Stephanie Yee maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Overweight and lowers the price target from $198 to $197.

JP Morgan Maintains Overweight on Waste Connections, Lowers Price Target to $197

Oppenheimer analyst Noah Kaye maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and lowers the price target from $194 to $192.

Oppenheimer Maintains Outperform on Waste Connections, Lowers Price Target to $192

Stifel analyst Brian Butler reiterates Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Buy and raises the price target from $200 to $205.

Reiteration

Stifel Reiterates Buy on Waste Connections, Raises Price Target to $205

BMO Capital analyst Devin Dodge maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and lowers the price target from $198 to $196.

BMO Capital Maintains Outperform on Waste Connections, Lowers Price Target to $196

Waste Connections, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) ("Waste Connections" or the "Company") today announced that its Board of Directors has declared a regular quarterly cash dividend on the Company's common shares and approved a 10.5% increase in the dividend. The regular quarterly cash dividend, which increases to $0.315 U.S. per common share of the Company from $0.285 U.S. per common share of the Company, will be paid on November 21, 2024 to shareholders of record on the close of business on November 7, 2024. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend.

Dividends

Waste Connections Announces 10.5% Increase In Quarterly Dividend From $0.285 To $0.315 Per Share

Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) reported quarterly earnings of $1.35 per share which beat the analyst consensus estimate of $1.30 by 3.85 percent. The company reported quarterly sales of $2.338 billion which beat the analyst consensus estimate of $2.296 billion by 1.84 percent. This is a 13.22 percent increase over sales of $2.065 billion the same period last year.

Earnings Beats

Waste Connections Q3 2024 Adj. EPS $1.35 Beats $1.30 Estimate, Sales $2.338B Beat $2.296B Estimate

Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) raises FY2024 sales outlook from $8.85 billion to $8.90 billion.

Guidance

Waste Connections Raises FY2024 Sales Guidance from $8.85B to $8.90B (Est. 8.867B)

Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) is preparing to release its quarterly earnings on Wednesday, 2024-10-23. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Waste Connections to report an earnings per share (EPS) of $1.30.
The announcement from Waste Connections is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.07, leading to a 2.35% drop in the share price on the subsequent day.
Here's a look at Waste Connections's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.17</td>
<td>1</td>
<td>1.08</td>
<td>1.14</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.24</td>
<td>1.04</td>
<td>1.11</td>
<td>1.17</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-1.0%</td>
<td>5.0%</td>
<td>-7.000000000000001%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729605747_0.png" alt="eps graph" />
<h3>Waste Connections Share Price Analysis</h3>
Shares of Waste Connections were trading at $181.7 as of October 21. Over the last 52-week period, shares are up 31.69%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/WCN/earnings">To track all earnings releases for Waste Connections visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Waste Connections

Oppenheimer analyst Noah Kaye maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and raises the price target from $191 to $194.

Oppenheimer Maintains Outperform on Waste Connections, Raises Price Target to $194

Scotiabank analyst Konark Gupta reinstates Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Sector Perform and announces $196 price target.

Initiation

Scotiabank Reinstates Sector Perform on Waste Connections, Announces $196 Price Target

TD Cowen analyst James Schumm maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Buy and raises the price target from $185 to $200.

TD Cowen Maintains Buy on Waste Connections, Raises Price Target to $200

BMO Capital analyst Devin Dodge maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and raises the price target from $196 to $198.

BMO Capital Maintains Outperform on Waste Connections, Raises Price Target to $198

CIBC maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperformer and raises the price target from $191 to $193.

CIBC Maintains Outperformer on Waste Connections, Raises Price Target to $193

RBC Capital analyst Sabahat Khan maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and raises the price target from $195 to $199.

TSX:WCN

RBC Capital Maintains Outperform on Waste Connections, Raises Price Target to $199

Morgan Stanley raised the firm's price target on Waste Connections (WCN) to $214 from $206 and keeps an Overweight rating on the shares. The firm, ...

Waste Connections price target raised to $214 from $206 at Morgan Stanley

Oppenheimer raised the firm's price target on Waste Connections (WCN) to $195 from $192 and keeps an Outperform rating on the shares after hosting ...

Waste Connections price target raised to $195 from $192 at Oppenheimer

In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Waste Connections (WCN – Research Report), with a price target of...

Oppenheimer Sticks to Its Buy Rating for Waste Connections (WCN)

Waste Connections (WCN) is cleaning up the competition with its unique approach to waste management. By blending profitability and sustainability, this market leader has carved out a distinct niche. Backed by strong financial performance and innovation, is WCN poised for long-term growth? Continue to read… The waste management market is on the brink of immense growth, fueled by increasing construction and demolition activities and the soaring demand for waste management services in emerging nations. A study by Market Research Future predicts the U.S. waste management market will hit $284.90 billion by 2032, with <a href="https://www.marketresearchfuture.com/reports/us-waste-management-market-21719">a robust CAGR of 8%</a>.
Amid this growth, Waste Connections, Inc. (<a href="https://stocknews.com/stock/WCN/">WCN</a>) emerges as a pioneer, championing sustainable and environmentally conscious waste management practices. Not only has WCN showcased strong fiscal third-quarter results, but it has also strategically aligned its operations to achieve sustainability and ESG goals while delivering value to its investors.
In an exemplary move, WCN unveiled its 2024 Sustainability Report, titled <a href="https://investors.wasteconnections.com/2024-10-24-WASTE-CONNECTIONS-DEMONSTRATES-PROGRESS-TOWARDS-ESG-GOALS-IN-UPDATED-2024-SUSTAINABILITY-REPORT">Connecting with the Sustainable Future</a>. The report highlights milestones such as reducing absolute emissions by 13% and lowering Scope 1 and 2 emissions intensity by over 40% compared to the 2019 baseline.
WCN has also made remarkable strides in recycling, biogas recovery, and beneficial reuse through investments in new facilities. This focus has resulted in tangible benefits, including a 13% decrease in incident rates since 2022. Such initiatives cement WCN's commitment to environmental progress and reinforce its leading position in the industry.
The company's efforts resonate not only in its operations but also in its stock performance. Over the past nine months, WCN's stock climbed 1.2%, and over the past year, it delivered an impressive gain of 18.2%, closing the last trading session at $174.13.
Now, let us delve deeper into the factors that could propel its performance even further.
Sound Historical Growth
Over the past three years, WCN has demonstrated consistent growth across key financial metrics. Its revenue grew at a CAGR of 13.6%, while EBITDA rose at a 12.8% CAGR. Operational income (EBIT) and total assets expanded at CAGRs of 13.9% and 12.1%, respectively.
Notably, net income surged at a CAGR of 17.3%, and EPS climbed even higher at 17.9%, showcasing robust profitability.
Strong Financials
For the fiscal 2024 third quarter that ended September 30, WCN's revenues increased 13.3% year-over-year to $2.34 billion. Its operating income grew 34.7% from the year-ago value to $475.34 million. WCN's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> grew 17.3% from the prior year's quarter to $787.44 million.
In addition, adjusted net income attributable to WCN increased 15.5% year-over-year to $350 million. Meanwhile, adjusted earnings per common share attributable to WCN common shareholders grew 15.4% from the previous year's period to $1.35.
As of September 30, 2024, WCN's cash and cash equivalents amounted to $115.27 million, compared to $78.40 million on December 31, 2023.
Favorable Analyst Estimates
Analysts predict WCN's revenue and EPS for the fiscal fourth quarter ending December 2024 to increase 10.4% and 8.4% year-over-year to $2.25 billion and $1.20, respectively. The company has exceeded the consensus EPS estimates in each of the four trailing quarters, which is noteworthy.
For the fiscal year ending December 2024, WCN's revenue and EPS are expected to rise 11% and 15.2% from the previous year, reaching $8.91 billion and $4.83, respectively.
Plus, looking ahead to fiscal 2025, analysts anticipate further growth, with revenue and EPS forecasted to rise by 7.5% and 12.1% from the prior year, reaching $9.58 billion and $5.41, respectively.
High Profitability
WCN's trailing-12-month gross profit margin of 41.78% is 31.2% higher than the industry average of 31.84%. Its trailing-12-month EBITDA margin stands at 30.23%, 114.9% higher than the industry average of 14.06%.
In addition, the company boasts a trailing-12-month net income margin of 10.81%, which is 67% higher than the sector average of 6.47%. Also, the stock's trailing-12-month levered FCF margin of 11.05% outperforms the industry average of 6.78% by 63%.
POWR Ratings Reflects Optimism
WCN's stable fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
WCN has a B grade for Quality, supported by profitability measures that exceed industry benchmarks. Furthermore, the company has a B grade for Stability, reflecting its 24-month beta of 0.60.
Within the <a href="https://stocknews.com/category/waste-disposal/">Waste Disposal</a> industry, WCN is ranked #5 out of 13 stocks. Beyond what is stated above, we have also given WCN grades for Momentum, Sentiment, Growth, and Value. Get all WCN ratings <a href="https://stocknews.com/stock/WCN/">here</a>.
Bottom Line
WCN has strengthened its position as a leading figure in the waste disposal and management sector owing to its industry-leading sustainability practices, which are actively trying to make the world a better place by reducing emissions and protecting the environment.
So, considering WCN's high profitability, strong financials, optimistic analyst estimates, and low volatility, now might be the ideal time to consider adding WCN to one's investment portfolio.
How Does Waste Connections, Inc. (WCN) Stack Up Against Its Peers?
Although WCN's near-term outlook appears sound, it may be worthwhile to explore its industry peers, who also exhibit strong POWR Ratings. So, consider these B (Buy) rated stocks from the Waste Disposal industry:
Republic Services, Inc. (<a href="https://stocknews.com/stock/RSG/">RSG</a>)
Clean Harbors, Inc. (<a href="https://stocknews.com/stock/CLH/">CLH</a>)
Concrete Pumping Holdings, Inc. (<a href="https://stocknews.com/stock/BBCP/">BBCP</a>)
What To Do Next?
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<hr />
WCN shares rose $0.48 (+0.28%) in premarket trading Friday. Year-to-date, WCN has gained 17.45%, versus a 24.47% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/wcn-rsg-clh-bbcp-is-waste-connections-inc-a-reliable-pick-for-sustainable-growth/>Is Waste Connections Inc. a Reliable Pick for Sustainable Growth?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Waste Connections Inc. a Reliable Pick for Sustainable Growth?

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