Waste Connections (WCN.TO) Buy, Sell or Hold

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Waste Connections (WCN.TO)

237.78

+1.82 (0.77%)

as of Jun 26, 2026, 8:00:00 pm Market Open.

283 watching

Investor Insights

Jun 26, 2026, 12:00 am

This summary was created by AI, based on 14 opinions in the last 12 months.

Waste Connections (WCN) operates in a stable and reliable industry, often viewed as a defensive play due to its predictable earnings and cash flows. Despite fundamental strengths and a manageable growth outlook, the company's stock has recently been on a downward trend, leading to concerns about timing for entry. Analysts commend its disciplined management and potential for long-term growth, albeit cautioning that the current price may be on the higher side, especially noted with a forward PE ratio at 27x. Acquisitions in smaller markets and a focus on employee safety contribute to its strong operational framework. Nevertheless, the market seems to prefer more dynamic growth stories over steady performers like WCN, which may impact buying decisions in the short term.

Consensus

Neutral

Valuation

Fair Value

Similar

BUY

Waste management has become a good place to be. When it turned back into a corporation, stock got hammered. Longer-term outlook is quite positive. Balance sheet is not particularly strained.

BUY

You would think garbage would be a pretty good business, even in a recession. Big dividend yield of 12.89%. Even if it dropped by 1/3, it is still 8%. Thinks it has been oversold. A lot of their revenue is in US$.

PAST TOP PICK

(A Top Pick Apr 28/08. Down 41%.) Has been a major disappointment. Distribution was slashed and is no longer acceptable to yield oriented investors. Need to do a lot of acquisitions and have high levels of debt.

DON'T BUY

(Market Call Minute.) Debt levels are still pretty high.

DON'T BUY

Signal to everybody that they were doing a restructuring but never mentioned a cut in distributions. They lost 17% of the market value, crushing their shareholders. A lot of credibility issues. Thinks it will go sideways for quite a while.

WAIT

Because of recent trust legislation, they can no longer acquire further assets. Management is going back to a corporate structure. Need cash for acquisitions so have pulled back on distributions. Wait until there are more growth investors onside. Wait for it to form a base.

COMMENT

Seriously considering this one. Good fundamentals. A key player in the waste management business.

BUY

For an income trust, it was an excellent model of relatively stable cash flow. When it converts to a corporation in 2011, there will be tax implications. The market is already pricing this in. Reasonable at today's price. 8.3% yield. Some of the recent selloff is in anticipation of a slowdown in the US economy, but longer-term an excellent business to be in.

TOP PICK

Major North American waste management firm. Recession proof. Stock has pulled back because management has stated that they may want to convert to a corporation earlier than 2011 but has said they will continue paying high levels of income. Can't see much downside if they do convert.

BUY

Much of their revenue and bottom line is derived from the US. As the US new home construction market slows, this will affect them. Doesn't expect earnings or cash flow to rebound in 2008. Longer term, it is in a very good business. 8.4% yield should be safe. Not a bad entry point.

WEAK BUY

Operationally it’s been chugging along. They’re not seeing signs of a recession yet. A growth company, should be a regular corporation. It’s reasonably priced, good entry point. The 8% yield is safe for the time being. Could see a little more downside in the stock.

BUY

Waste management. A sector that is very steady through all cycles. Trading in line or slight discount to some of the US competition and there are some concerns on consolidation but they have done a great job of making acquisitions in the US. Very good management team that is able to grow its business and distributions over time.

PAST TOP PICK

(A Top Pick Nov 10/06. Up 5.8% including distributions.) Waste management. Still likes. A relatively recession resistant business. Low payout ratio.

PAST TOP PICK

(A Top Pick Feb 23/07. Down 3.4% including distributions.) One of the premier waste management companies in North America. Industry leading margins. Good entry point.

COMMENT

As the 2011 tax changes come near, investors will be pricing this in. This company is a good model for an income trust. What has been hurting them is that they have a lot of operations in the US and the stronger Cdn$ has had a negative impact. He is starting to look at this at these levels. Yield of about 7.5%.

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Waste Connections (WCN.TO)