Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Waste Connections Inc . (NYSE:WCN) stock soared to an all-time high, reaching a price level of $194.88. This milestone underscores the company’s robust performance in a challenging economic environment, reflecting investor confidence and a bullish outlook on the waste management industry. The $50.27 billion market cap company has demonstrated impressive revenue growth of 11.19% over the last twelve months, with analysts setting price targets as high as $219. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, though it maintains strong financial health metrics. Over the past year, Waste Connections has witnessed a significant appreciation in its stock value, with a commendable 1-year change of 14.27%. This growth trajectory highlights the company’s consistent operational excellence and strategic initiatives that have resonated well with investors, positioning WCN as a standout performer in its sector. InvestingPro data reveals the company has maintained low price volatility while delivering strong returns over both five and ten-year periods. For deeper insights into WCN’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Waste Connections Inc. reported its fourth-quarter 2024 financial results, highlighting a revenue of $2.04 billion, which fell short of the expected $2.25 billion. The company’s earnings per share (EPS) also missed forecasts, coming in at $1.16 against the anticipated $1.21. Despite these misses, Waste Connections achieved an 11% year-over-year revenue increase to $2.26 billion for the quarter and a full-year revenue of $8.92 billion, marking an 11.2% growth compared to the previous year. Adjusted EBITDA for the quarter was $732 million, representing 32.4% of revenue, with a full-year adjusted EBITDA reaching $2.902 billion, a 15% increase year-over-year.
Analysts at Jefferies responded by raising their price target for Waste Connections to $215, maintaining a Buy rating, noting the company’s strong pricing gains despite volume declines due to the Chiquita landfill shutdown. The company has set optimistic guidance for 2025, with a revenue target between $9.45 billion and $9.6 billion and an adjusted EBITDA guidance of $3.12 billion to $3.2 billion. Waste Connections plans to focus on innovation, including projects in PFAS treatment and renewable natural gas facilities, and expects significant operational improvements to continue driving growth. Jefferies analysts highlighted Waste Connections’ resilience and potential for expansion, emphasizing the favorable price/cost spread and labor efficiency improvements as key growth drivers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.