Waste Connections (TSE:WCN) Share Price Passes Above 50 Day Moving Average - What's Next?

Key Points

• Technical development: Waste Connections briefly crossed above its 50-day moving average (C$225.46), trading as high as C$225.51 with the last trade at C$223.76 on volume of 263,119; the 200-day MA remains higher at C$232.88.
• Analyst sentiment: Nine analysts rate WCN a Strong Buy and one rates it a Hold, with recent upgrades from Wolfe Research and BNP Paribas Exane, giving an overall "Strong Buy" consensus.
• Fundamentals & valuation: The company has a market cap of C$56.85B, a high valuation (P/E 54.58) and elevated leverage (debt-to-equity 117.10); it reported quarterly EPS of C$1.71 on C$3.30B revenue and analysts forecast roughly 9.98 EPS for the year.

Waste Connections, Inc. (TSE:WCN - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$225.46 and traded as high as C$225.51. Waste Connections shares last traded at C$223.76, with a volume of 263,119 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WCN. Wolfe Research raised Waste Connections to a "strong-buy" rating in a research note on Friday, March 13th. BNP Paribas Exane raised Waste Connections to a "strong-buy" rating in a research note on Tuesday, January 6th. Nine analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Waste Connections has an average rating of "Strong Buy".

Waste Connections Price Performance

The company has a market capitalization of C$56.85 billion, a price-to-earnings ratio of 54.58, a P/E/G ratio of 2.22 and a beta of 0.48. The company has a debt-to-equity ratio of 117.10, a quick ratio of 0.74 and a current ratio of 0.69. The business has a 50 day moving average price of C$225.46 and a 200-day moving average price of C$232.88.

Waste Connections (TSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported C$1.71 earnings per share (EPS) for the quarter. The company 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%. 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.

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