Waste Connections Inc rises despite market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
0mins
Should l Buy WCN?
Source: NASDAQ.COM
Waste Connections Inc (WCN) saw a price increase of 5.55% as it crossed above its 5-day SMA, indicating strong buying interest.
The stock's rise occurred despite the broader market's decline, with both the Nasdaq-100 and S&P 500 down slightly. This suggests a sector rotation, where investors are moving funds into Waste Connections while pulling back from other sectors.
This movement could indicate a shift in investor sentiment towards waste management and environmental services, potentially driven by recent trends in sustainability and infrastructure investment.
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Analyst Views on WCN
Wall Street analysts forecast WCN stock price to rise
19 Analyst Rating
16 Buy
3 Hold
0 Sell
Strong Buy
Current: 166.070
Low
173.11
Averages
205.54
High
221.00
Current: 166.070
Low
173.11
Averages
205.54
High
221.00
About WCN
Waste Connections, Inc. is an integrated solid waste services company. It provides non-hazardous waste collection, transfer and disposal services, including by rail, along with resource recovery primarily through recycling and renewable fuels generation. Its segments include Western, Southern, Eastern, Central, Canada and MidSouth. It serves approximately nine million residential, commercial and industrial customers in secondary markets across 46 states in the U.S. and six provinces in Canada. It also provides non-hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S. and Canada, as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. Its residential services include garbage pickup, yard waste, recycling, dumpster rental, bulk pickup, and portable toilets. Its commercial services include business waste collection, commercial recycling, shredding, roll off dumpster rental, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
WASTE CONNECTIONS INC: JP MORGAN INCREASES TARGET PRICE FROM $195 TO $210
- JPMorgan's Price Target Increase: JPMorgan has raised its price target for a specific asset from $195 to $210.
- Market Implications: This adjustment reflects JPMorgan's confidence in the asset's performance and potential growth in the market.
See More
Waste Connections Q1 2026 Earnings Exceed Expectations
- Revenue and Profit Growth: Waste Connections reported Q1 revenue of $2.371 billion, exceeding expectations, with adjusted EBITDA of $769.5 million reflecting an 8% year-over-year increase, demonstrating the company's strong market performance and enhanced profitability.
- Core Pricing Momentum: CEO Mittelstaedt highlighted a 6% increase in core pricing, providing visibility for the high end of the 2026 outlook between 5% and 5.5%, indicating successful pricing strategies in a competitive environment.
- Capital Allocation and M&A Opportunities: Management anticipates closing a series of deals with an aggregate annualized revenue of approximately $100 million by the end of Q2 or early Q3, while also repurchasing about 1% of outstanding shares, showcasing a disciplined approach to capital allocation.
- Future Outlook and Risk Management: Despite challenges from rising fuel costs and weather impacts, management remains optimistic about the 2026 outlook, emphasizing that ongoing investments in AI and special waste processing will drive future profit growth.
See More
WASTE CONNECTIONS INC: JP MORGAN INCREASES TARGET PRICE FROM $187 TO $195
- JPMorgan's Price Target Increase: JPMorgan has raised its price target for a specific stock from $187 to $195.
- Market Implications: This adjustment reflects JPMorgan's confidence in the stock's performance and may influence investor sentiment.
See More
Waste Connections (WCN) Earnings Call Transcript
See More
Analysis of Stable Stock Investment Opportunities
- Industry Leader: Waste Management (WM) holds an 18% market share in the $125 billion waste and recycling industry in the U.S. and Canada, supported by its 262 solid waste landfills, which solidifies its leading position in the sector.
- Renewable Natural Gas Leader: WM is a pioneer in renewable natural gas with eight plants operational and twelve more planned, converting gases from landfills into fuel, thereby enhancing operational efficiency and sustainability.
- Award-Winning Culture: Republic Services (RSG), the second-largest player in waste collection, boasts 207 landfills and consistent revenue growth, earning numerous accolades for its corporate culture and sustainability efforts, reflecting its strong market presence.
- Successful Acquisition Strategy: Waste Connections (WCN) has achieved a staggering 594-bagger return over the past 25 years by focusing on secondary markets with less competition through a decentralized acquisition strategy, showcasing its robust growth potential and market adaptability.
See More
CIBC Capital Markets Releases Q1/26 Solid Waste Earnings Preview
- Earnings Outlook: CIBC Capital Markets has released a preview of the solid waste sector's earnings for Q1 2026, expecting stable overall performance that reflects ongoing demand for waste management services in the market.
- Market Trend Insights: The report highlights that growth in the solid waste industry is primarily driven by accelerated urbanization and environmental policy initiatives, which will create new business opportunities for related companies.
- Investor Focus: CIBC advises investors to pay attention to leading firms in the waste management sector, believing these companies will hold advantageous positions in future market competition, particularly in terms of technological innovation and service optimization.
- Industry Risk Assessment: While the overall outlook is optimistic, CIBC also cautions investors to be aware of potential policy changes and market fluctuations, as these factors could impact earnings in the solid waste sector.
See More
WASTE CONNECTIONS INC: JP MORGAN INCREASES TARGET PRICE FROM $195 TO $210
- JPMorgan's Price Target Increase: JPMorgan has raised its price target for a specific asset from $195 to $210.
- Market Implications: This adjustment reflects JPMorgan's confidence in the asset's performance and potential growth in the market.
See More
Waste Connections Q1 2026 Earnings Exceed Expectations
- Revenue and Profit Growth: Waste Connections reported Q1 revenue of $2.371 billion, exceeding expectations, with adjusted EBITDA of $769.5 million reflecting an 8% year-over-year increase, demonstrating the company's strong market performance and enhanced profitability.
- Core Pricing Momentum: CEO Mittelstaedt highlighted a 6% increase in core pricing, providing visibility for the high end of the 2026 outlook between 5% and 5.5%, indicating successful pricing strategies in a competitive environment.
- Capital Allocation and M&A Opportunities: Management anticipates closing a series of deals with an aggregate annualized revenue of approximately $100 million by the end of Q2 or early Q3, while also repurchasing about 1% of outstanding shares, showcasing a disciplined approach to capital allocation.
- Future Outlook and Risk Management: Despite challenges from rising fuel costs and weather impacts, management remains optimistic about the 2026 outlook, emphasizing that ongoing investments in AI and special waste processing will drive future profit growth.
See More
WASTE CONNECTIONS INC: JP MORGAN INCREASES TARGET PRICE FROM $187 TO $195
- JPMorgan's Price Target Increase: JPMorgan has raised its price target for a specific stock from $187 to $195.
- Market Implications: This adjustment reflects JPMorgan's confidence in the stock's performance and may influence investor sentiment.
See More
Waste Connections (WCN) Earnings Call Transcript
See More
Analysis of Stable Stock Investment Opportunities
- Industry Leader: Waste Management (WM) holds an 18% market share in the $125 billion waste and recycling industry in the U.S. and Canada, supported by its 262 solid waste landfills, which solidifies its leading position in the sector.
- Renewable Natural Gas Leader: WM is a pioneer in renewable natural gas with eight plants operational and twelve more planned, converting gases from landfills into fuel, thereby enhancing operational efficiency and sustainability.
- Award-Winning Culture: Republic Services (RSG), the second-largest player in waste collection, boasts 207 landfills and consistent revenue growth, earning numerous accolades for its corporate culture and sustainability efforts, reflecting its strong market presence.
- Successful Acquisition Strategy: Waste Connections (WCN) has achieved a staggering 594-bagger return over the past 25 years by focusing on secondary markets with less competition through a decentralized acquisition strategy, showcasing its robust growth potential and market adaptability.
See More
CIBC Capital Markets Releases Q1/26 Solid Waste Earnings Preview
- Earnings Outlook: CIBC Capital Markets has released a preview of the solid waste sector's earnings for Q1 2026, expecting stable overall performance that reflects ongoing demand for waste management services in the market.
- Market Trend Insights: The report highlights that growth in the solid waste industry is primarily driven by accelerated urbanization and environmental policy initiatives, which will create new business opportunities for related companies.
- Investor Focus: CIBC advises investors to pay attention to leading firms in the waste management sector, believing these companies will hold advantageous positions in future market competition, particularly in terms of technological innovation and service optimization.
- Industry Risk Assessment: While the overall outlook is optimistic, CIBC also cautions investors to be aware of potential policy changes and market fluctuations, as these factors could impact earnings in the solid waste sector.
See More
