Progressive Waste Solutions Ltd (BIN): Today's Featured Materials & Construction Loser
The materials & construction industry closed the day up 1.9%. US Concrete Inc (USCR), Continental Materials Corporation (CUO), Real Goods Solar Inc (RSOL), and Jewett-Cameron Trading Company (JCTCF) were all decliners today within the materials & construction industry with Progressive Waste Solutions (BIN) being today's featured materials & construction loser. Progressive Waste Solutions fell $1.48 (-6.4%) to $21.52 on heavy volume. Throughout the day, 1.2 million shares of Progressive Waste Solutions exchanged hands as compared to its average daily volume of 472,500 shares. Progressive Waste Solutions Ltd. operates as a vertically integrated waste management company in North America. The company provides non-hazardous solid waste collection and landfill disposal services to commercial, industrial, municipal, and residential customers. Progressive Waste Solutions has a market cap of $2.8 billion and is part of the industrial goods sector. The company has a P/E ratio of 26.6, below the average materials & construction industry P/E ratio of 26.9 and above the S&P 500 P/E ratio of 17.7. Shares are down 5.3% year to date as of the close of trading on Tuesday. TheStreet Ratings rates Progressive Waste as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself.
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