Waste Connections Inc. (NYSE:WCN) ranks among the stocks in Bill Gates’ portfolio that analysts are watching. On October 21, Waste Connections Inc. (NYSE:WCN) released its third quarter financial results, with revenue somewhat higher than what analysts had expected, while adjusted earnings fell short of projections.
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The company reported revenue of $2.46 billion in the third quarter, slightly higher than the consensus expectation of $2.45 billion and a 5.1% rise over the same quarter a year earlier. However, adjusted EPS came in at $1.35, missing analyst forecasts of $1.38.
Waste Connections Inc. also reported an 11.1% increase in its regular quarterly dividend and completed share buybacks totaling roughly 1% of outstanding shares. Year-to-date, the company has completed or secured formal agreements on acquisitions totaling around $300 million in annual revenue.
Following the results, Stifel maintained a Buy rating but lowered its price target for Waste Connections Inc. to $218 from $221 on October 23, noting that the company’s core business exceeded expectations.
Waste Connections Inc. is a solid waste management company providing integrated services including non-hazardous waste collection, transfer, disposal, and resource recovery (recycling and renewable fuels).
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This article is originally published at Insider Monkey.
