Waste Connections (NYSE:WCN) Hits New 12-Month Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on WCN shares. Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. UBS Group set a $205.00 price target on Waste Connections in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 target price on Waste Connections in a research report on Thursday, January 8th. Finally, BNP Paribas Exane began coverage on Waste Connections in a research note on Tuesday, January 6th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $203.52.

Waste Connections Stock Performance

The stock has a market cap of $39.90 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.79 and a beta of 0.62. 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 company’s 50 day simple moving average is $166.94 and its 200 day simple moving average is $170.85.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s payout ratio is presently 33.57%.

Hedge Funds Weigh In On Waste Connections

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Waste Connections during the 1st quarter valued at $577,000. MAI Capital Management boosted its stake in Waste Connections by 15.0% during the second quarter. MAI Capital Management now owns 1,283 shares of the business services provider’s stock valued at $240,000 after buying an additional 167 shares in the last quarter. AlphaCore Capital LLC bought a new position in Waste Connections during the second quarter valued at about $39,000. Rhumbline Advisers grew its holdings in Waste Connections by 13.3% during the second quarter. Rhumbline Advisers now owns 49,639 shares of the business services provider’s stock worth $9,269,000 after acquiring an additional 5,831 shares during the period. Finally, American Century Companies Inc. grew its holdings in Waste Connections by 3.0% during the second quarter. American Century Companies Inc. now owns 19,620 shares of the business services provider’s stock worth $3,663,000 after acquiring an additional 564 shares during the period. 86.09% of the stock is owned by institutional investors.

About Waste Connections

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.