Waste Connections (TSE:WCN) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Waste Connections, Inc. (TSE:WCN) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$239.47 and traded as low as C$227.02. Waste Connections shares last traded at C$227.18, with a volume of 447,570 shares trading hands.

Wall Street Analysts Forecast Growth

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

Waste Connections Stock Performance

The stock has a fifty day moving average price of C$239.47 and a 200 day moving average price of C$244.65. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 102.69. The firm has a market cap of C$58.16 billion, a price-to-earnings ratio of 94.66, a price-to-earnings-growth ratio of 2.22 and a beta of 0.31.

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

About Waste Connections

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.