Waste Connections (WCN) Gains 27% in a Year: Here's How

Waste Connections, Inc. WCN stock has rallied an impressive 26.8% over the past year. The company’s performance is being driven by healthy demand for services, acquisitions, operating efficiency and an increase in prices charged to customers.

Waste Connections, Inc. Price

Waste Connections, Inc. Price

Waste Connections, Inc. price | Waste Connections, Inc. Quote

Waste Connections continues to benefit from ongoing trends such as increasing environmental concerns, rapid industrialization and an increase in population. The services that the company provides usually cannot be delayed and are required on a scheduled basis, allowing it to achieve a steady flow of revenues, which increased 11.2% year over year in 2023.

Waste Connections follows a strategic combination of financial, market and management criteria to evaluate acquisition opportunities. In 2023, 2022 and 2021, the company completed 13, 24 and 30 acquisitions, respectively. They contributed to its revenues, with amounts of $410.9 million in 2023, $552 million in 2022 and $215.39 million in 2021.

Prices charged to customers increased $616.6 million year over year in 2023, driving an adjusted EBITDA growth of 13.6%.

Commitment to shareholder returns makes Waste Connections a reliable way for investors to compound wealth over the long term. In 2023, 2022 and 2021, the company paid $270.6 million, $243 million and $220.2 million in dividends, respectively.

Zacks Rank and Stocks to Consider

WCN currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are PagSeguro Digital Ltd. PAGS and Coherent Corp. COHR.

PagSeguro Digital Ltd. flaunts a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

PAGS has a long-term earnings growth expectation of 14.3%. It delivered a trailing four-quarter earnings surprise of 10.1%, on average.

Coherent Corp. carries a Zacks Rank of 2 (Buy) at present. It has a long-term earnings growth expectation of 9.3%. COHR delivered a trailing four-quarter earnings surprise of 17.3%, on average.

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Waste Connections, Inc. (WCN) : Free Stock Analysis Report

Coherent Corp. (COHR) : Free Stock Analysis Report

PagSeguro Digital Ltd. (PAGS) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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