Waste Connections (NYSE:WCN) Shares Down 5.6% - What's Next?

Waste Connections, Inc. (NYSE:WCN - Get Free Report)'s stock price traded down 5.6% during mid-day trading on Monday . The company traded as low as $187.01 and last traded at $184.30. 276,867 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,097,765 shares. The stock had previously closed at $195.29.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WCN. StockNews.com lowered Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Citigroup upped their price objective on shares of Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Jefferies Financial Group decreased their price objective on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. William Blair began coverage on shares of Waste Connections in a research report on Thursday, April 3rd. They issued an "outperform" rating on the stock. Finally, Truist Financial set a $220.00 price objective on shares of Waste Connections in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.21.

Waste Connections Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The stock has a market cap of $47.98 billion, a P/E ratio of 77.71, a PEG ratio of 3.07 and a beta of 0.66. The firm's fifty day moving average price is $192.47 and its 200-day moving average price is $186.07.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the firm posted $1.04 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. Analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, May 7th. Waste Connections's dividend payout ratio is currently 51.85%.

Hedge Funds Weigh In On Waste Connections

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in Waste Connections in the 4th quarter worth about $26,000. Private Trust Co. NA increased its holdings in Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after buying an additional 92 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Waste Connections in the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new stake in Waste Connections in the 4th quarter worth about $28,000. Finally, Smartleaf Asset Management LLC increased its holdings in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.