Waste Connections (TSE:WCN) Share Price Passes Below 50-Day Moving Average of $248.55

Waste Connections, Inc. (TSE:WCN) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$248.55 and traded as low as C$241.81. Waste Connections shares last traded at C$243.05, with a volume of 271,478 shares trading hands.

Wall Street Analyst Weigh In

Separately, ATB Capital boosted their price objective on Waste Connections from C$240.00 to C$255.00 in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$196.10.

Waste Connections Stock Performance

The company’s 50-day simple moving average is C$248.49 and its 200 day simple moving average is C$236.76. The stock has a market cap of C$62.69 billion, a P/E ratio of 53.76, a PEG ratio of 2.22 and a beta of 0.72. The company has a current ratio of 0.70, a quick ratio of 0.74 and a debt-to-equity ratio of 100.60.

Waste Connections (TSE:WCN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported C$1.70 earnings per share for the quarter, topping the consensus estimate of C$1.61 by C$0.09. The business had revenue of C$3.08 billion for the quarter, compared to analysts’ expectations of C$3.03 billion. Waste Connections had a return on equity of 11.14% and a net margin of 10.23%. As a group, sell-side analysts expect that Waste Connections, Inc. will post 10.0621118 EPS for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.56 annualized dividend and a yield of 0.64%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.39. Waste Connections’s dividend payout ratio is presently 34.29%.

Insiders Place Their Bets

In related news, Senior Officer Robert Andres Nielsen sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of C$181.75, for a total value of C$90,875.00. In related news, Senior Officer Robert Andres Nielsen sold 500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of C$181.75, for a total value of C$90,875.00. Also, Senior Officer Philip Rivard sold 2,300 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of C$174.75, for a total transaction of C$401,925.00. Over the last 90 days, insiders have sold 30,671 shares of company stock valued at $6,073,683. Company insiders own 0.21% of the company’s stock.

Waste Connections Company Profile

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.