Waste Connections (TSE:WCN) Sets New 1-Year Low – Here’s Why

Waste Connections, Inc. (TSE:WCN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as C$203.46 and last traded at C$207.05, with a volume of 235213 shares changing hands. The stock had previously closed at C$205.74.

Analyst Upgrades and Downgrades

Separately, Wolfe Research raised Waste Connections to a “strong-buy” rating in a report on Friday, March 13th. Eight analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Waste Connections Price Performance

The company has a debt-to-equity ratio of 117.10, a current ratio of 0.69 and a quick ratio of 0.74. The stock has a 50 day moving average price of C$217.71 and a 200-day moving average price of C$228.42. The stock has a market capitalization of C$53.26 billion, a price-to-earnings ratio of 51.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.50.

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

Insider Buying and Selling

In other news, insider Robert Andres Nielsen sold 500 shares of Waste Connections stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$213.96, for a total value of C$106,980.00. Following the sale, the insider directly owned 4,250 shares of the company’s stock, valued at C$909,330. The trade was a 10.53% decrease in their ownership of the stock. Also, Director Ronald J. Mittelstaedt purchased 50,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of C$209.38 per share, for a total transaction of C$10,469,000.00. Following the completion of the purchase, the director directly owned 301,017 shares of the company’s stock, valued at approximately C$63,026,939.46. The trade was a 19.92% increase in their ownership of the stock. Insiders sold 1,127 shares of company stock worth $238,128 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

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.