Waste Connections has priced a CAD 700 million senior notes offering in the U.S. and Canada, with proceeds expected to repay existing Canadian dollar borrowings. The company's share price stands at $167.38, with a 90-day return up 3.81% but a year-to-date decline of 3.87% and a one-year total shareholder return down 9.56%. Recent earnings, buybacks, and the new notes issuance point to a confident business, though investors are weighing whether the stock is fully valued. A popular narrative suggests the stock is 17.9% undervalued with a fair value of $203.92, supported by robust acquisition activity and a strong balance sheet, while the current price-to-earnings ratio of 39.8 times is roughly double the US Commercial Services industry average of 19.3 times, signaling potential valuation risk.
Waste Connections IncPricing of CAD 700M notes to repay borrowings, with mixed signals from valuation and buybacks.