Waste Connections (TSE:WCN) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of Waste Connections, Inc. (TSE:WCN) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$236.49 and traded as low as C$231.00. Waste Connections shares last traded at C$231.80, with a volume of 394,410 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group upgraded Waste Connections to a “strong-buy” rating in a research note on Monday, November 24th. Sanford C. Bernstein upgraded Waste Connections to a “strong-buy” rating in a research report on Wednesday, November 12th. BNP Paribas Exane upgraded shares of Waste Connections to a “strong-buy” rating in a research report on Tuesday, January 6th. Scotiabank upgraded shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company raised Waste Connections to a “strong-buy” rating in a research note on Thursday, November 13th. Nine analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Waste Connections presently has an average rating of “Strong Buy”.

Waste Connections Price Performance

The company has a debt-to-equity ratio of 102.69, a quick ratio of 0.74 and a current ratio of 0.77. The stock has a market cap of C$59.35 billion, a P/E ratio of 96.58, a price-to-earnings-growth ratio of 2.22 and a beta of 0.33. The firm has a 50-day moving average price of C$236.49 and a 200-day moving average price of C$243.08.

Waste Connections (TSE:WCN) last issued its quarterly earnings results on Tuesday, October 21st. The company reported C$1.11 EPS for the quarter. The firm had revenue of C$3.42 billion for the quarter. Waste Connections had a return on equity of 11.86% and a net margin of 10.81%. On average, analysts forecast that Waste Connections, Inc. will post 9.9808652 earnings per share for the current fiscal year.

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.