Waste Connections (TSE:WCN) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Waste Connections, Inc. (TSE:WCN) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$231.95 and traded as low as C$230.51. Waste Connections shares last traded at C$234.73, with a volume of 610,444 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on WCN. Wells Fargo & Company upgraded shares of Waste Connections to a “strong-buy” rating in a research report on Thursday, November 13th. Sanford C. Bernstein raised shares of Waste Connections to a “strong-buy” rating in a 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. Finally, The Goldman Sachs Group raised shares of Waste Connections to a “strong-buy” rating in a research note on Monday, November 24th. Nine analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Waste Connections Stock Up 1.3%

The company has a market capitalization of C$60.00 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.33. 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 stock’s fifty day moving average is C$231.95 and its 200 day moving average is C$239.50.

Waste Connections (TSE:WCN) last announced its quarterly earnings results on Wednesday, February 11th. The company reported C$1.77 earnings per share (EPS) for the quarter. The business had revenue of C$3.26 billion for the quarter. Waste Connections had a net margin of 10.81% and a return on equity of 11.86%. Research analysts predict that Waste Connections, Inc. will post 9.9808652 EPS for the current fiscal 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.