Waste Connections, Inc. (WCN) to Issue Quarterly Dividend of $0.32 on March 13th

Waste Connections, Inc. (NYSE:WCN) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Thursday, February 27th will be given a dividend of 0.315 per share by the business services provider on Thursday, March 13th. This represents a $1.26 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, February 27th.

Waste Connections has increased its dividend payment by an average of 11.5% annually over the last three years. Waste Connections has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Waste Connections to earn $6.02 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 20.9%.

Waste Connections Stock Up 0.3 %

Shares of NYSE:WCN opened at $187.94 on Tuesday. The stock has a market capitalization of $48.51 billion, a P/E ratio of 78.64, a price-to-earnings-growth ratio of 3.07 and a beta of 0.77. Waste Connections has a 12-month low of $160.34 and a 12-month high of $194.83. The stock’s 50-day moving average price is $179.93 and its 200-day moving average price is $182.09. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. On average, equities analysts anticipate that Waste Connections will post 5.28 earnings per share for the current year.

Analysts Set New Price Targets

WCN has been the subject of several research analyst reports. Jefferies Financial Group dropped their price objective on Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, January 30th. StockNews.com cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Oppenheimer boosted their price target on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Finally, CIBC decreased their target price on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Five investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

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.