Trade-Ideas: Progressive Waste Solutions (BIN) Is Today's Pre-Market Mover With Heavy Volume Stock

Trade-Ideas LLC identified Progressive Waste Solutions ( BIN) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Progressive Waste Solutions as such a stock due to the following factors:

  • BIN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.3 million.
  • BIN traded 72,982 shares today in the pre-market hours as of 8:08 AM, representing 21.2% of its average daily volume.

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More details on BIN:

Progressive Waste Solutions Ltd. operates as a vertically integrated non-hazardous solid waste management company in North America. It operates through Canada, the U.S. Northeast, and the U.S. South segments. The stock currently has a dividend yield of 2.2%. BIN has a PE ratio of 27. Currently there are 5 analysts that rate Progressive Waste Solutions a buy, 1 analyst rates it a sell, and 6 rate it a hold.

The average volume for Progressive Waste Solutions has been 291,600 shares per day over the past 30 days. Progressive Waste has a market cap of $2.5 billion and is part of the industrial goods sector and materials & construction industry. Shares are down 23% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Progressive Waste Solutions as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

Highlights from the ratings report include:
  • Net operating cash flow has increased to $141.00 million or 46.54% when compared to the same quarter last year. In addition, PROGRESSIVE WASTE SOLUTIONS has also vastly surpassed the industry average cash flow growth rate of -8.30%.
  • 37.23% is the gross profit margin for PROGRESSIVE WASTE SOLUTIONS which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 4.68% trails the industry average.
  • PROGRESSIVE WASTE SOLUTIONS's earnings per share declined by 41.7% in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, PROGRESSIVE WASTE SOLUTIONS increased its bottom line by earning $1.12 versus $1.01 in the prior year.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Commercial Services & Supplies industry. The net income has significantly decreased by 43.9% when compared to the same quarter one year ago, falling from $40.81 million to $22.91 million.
  • The share price of PROGRESSIVE WASTE SOLUTIONS has not done very well: it is down 22.93% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. Looking ahead, other than the push or pull of the broad market, we do not see anything in the company's numbers that may help reverse the decline experienced over the past 12 months. Despite the past decline, the stock is still selling for more than most others in its industry.

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