Waste Connections (NYSE:WCN – Get Free Report) announced its quarterly earnings results on Wednesday. The business services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07, Briefing.com reports. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Waste Connections updated its FY 2024 guidance to EPS.
Waste Connections Stock Performance
Shares of NYSE:WCN traded down $4.28 on Thursday, hitting $175.43. The company had a trading volume of 1,464,959 shares, compared to its average volume of 903,351. The stock has a market cap of $45.26 billion, a price-to-earnings ratio of 57.26, a P/E/G ratio of 3.00 and a beta of 0.72. The stock has a 50 day moving average price of $172.25 and a 200 day moving average price of $166.40. Waste Connections has a 1-year low of $126.12 and a 1-year high of $182.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00.
Waste Connections Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 0.65%. The ex-dividend date is Wednesday, August 7th. Waste Connections’s dividend payout ratio is 37.01%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on WCN
Insider Transactions at Waste Connections
In related news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $169.00, for a total value of $169,000.00. Following the transaction, the senior vice president now owns 5,321 shares in the company, valued at approximately $899,249. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction on Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the completion of the sale, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $169.00, for a total transaction of $169,000.00. Following the completion of the transaction, the senior vice president now owns 5,321 shares in the company, valued at $899,249. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,500 shares of company stock worth $752,385. 0.31% of the stock is owned by insiders.
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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