Waste Connections (NYSE:WCN) Sets New 1-Year Low – What’s Next?

Waste Connections, Inc. (NYSE:WCN)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $154.90 and last traded at $156.0870, with a volume of 138437 shares. The stock had previously closed at $157.78.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BNP Paribas Exane assumed coverage on shares of Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating on the stock. Stifel Nicolaus set a $213.00 price target on shares of Waste Connections and gave the company a “buy” rating in a report on Friday, February 13th. Oppenheimer reiterated an “outperform” rating and issued a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Finally, Wolfe Research started coverage on shares of Waste Connections in a research report on Friday, March 13th. They set an “outperform” rating and a $199.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Connections currently has an average rating of “Buy” and a consensus target price of $203.52.

Waste Connections Price Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $40.14 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.70 and a beta of 0.62. The company has a 50-day moving average of $166.58 and a 200-day moving average of $170.65.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 11th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.Waste Connections’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 25th. Waste Connections’s dividend payout ratio is currently 33.57%.

Institutional Trading of Waste Connections

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WCN. City Holding Co. purchased a new position in Waste Connections in the 4th quarter valued at about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections during the 3rd quarter worth about $26,000. Asset Dedication LLC purchased a new stake in shares of Waste Connections during the second quarter worth about $28,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Waste Connections during the third quarter worth about $30,000. Finally, Transamerica Financial Advisors LLC raised its position in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.