Waste Connections (TSE:WCN) Hits New 52-Week Low – What’s Next?

Waste Connections, Inc. (TSE:WCN) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$204.23 and last traded at C$205.81, with a volume of 200656 shares. The stock had previously closed at C$207.42.

Wall Street Analyst Weigh In

Separately, Wolfe Research upgraded shares of Waste Connections to a “strong-buy” rating in a research note on Friday, March 13th. Nine analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Waste Connections Stock Up 1.2%

The company has a current ratio of 0.69, a quick ratio of 0.74 and a debt-to-equity ratio of 117.10. The firm’s 50 day simple moving average is C$222.18 and its two-hundred day simple moving average is C$230.81. The firm has a market cap of C$54.72 billion, a price-to-earnings ratio of 52.53, a PEG ratio of 2.22 and a beta of 0.50.

Waste Connections (TSE:WCN) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported C$1.71 earnings per share for the quarter. Waste Connections had a net margin of 10.98% and a return on equity of 12.83%. The business had revenue of C$3.30 billion during the quarter. On average, equities analysts forecast that Waste Connections, Inc. will post 9.9808652 EPS for the current year.

Insider Activity

In other news, Director Ronald J. Mittelstaedt bought 50,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of C$209.38 per share, with a total value of C$10,469,000.00. Following the acquisition, the director directly owned 301,017 shares in the company, valued at C$63,026,939.46. This represents a 19.92% increase in their ownership of the stock. Also, insider Robert Andres Nielsen sold 337 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of C$210.44, for a total transaction of C$70,918.28. Following the completion of the transaction, the insider directly owned 5,040 shares in the company, valued at approximately C$1,060,617.60. This represents a 6.27% decrease in their ownership of the stock. 0.21% of the stock is owned by company insiders.

Waste Connections Company Profile

Waste Connections is the third- largest integrated provider of traditional solid waste and recycling services in the North America, operating 91 active landfills (12 are E&P waste landfills), 132 transfer stations, and 68 recycling operations. The firm serves residential, commercial, industrial, and energy end markets. Waste Connections entered the Canadian market with its 2016 merger with Progressive Waste. In 2020, 13% of consolidated revenue was generated from the firm’s Canadian segment.