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Waste Management (WM) Gains As Market Dips: What You Should Know
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Waste Management (WM - Free Report) closed the most recent trading day at $160.59, moving +0.75% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.26%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the garbage and recycling hauler had gained 2.27% in the past month. In that same time, the Business Services sector gained 9.73%, while the S&P 500 gained 6.07%.
Investors will be hoping for strength from Waste Management as it approaches its next earnings release, which is expected to be April 26, 2022. In that report, analysts expect Waste Management to post earnings of $1.12 per share. This would mark year-over-year growth of 5.66%. Our most recent consensus estimate is calling for quarterly revenue of $4.45 billion, up 8.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.38 per share and revenue of $19.03 billion, which would represent changes of +11.16% and +6.1%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Waste Management. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Waste Management is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Waste Management is currently trading at a Forward P/E ratio of 29.65. This valuation marks a premium compared to its industry's average Forward P/E of 26.83.
It is also worth noting that WM currently has a PEG ratio of 2.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Waste Removal Services was holding an average PEG ratio of 2.84 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WM in the coming trading sessions, be sure to utilize Zacks.com.
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Waste Management (WM) Gains As Market Dips: What You Should Know
Waste Management (WM - Free Report) closed the most recent trading day at $160.59, moving +0.75% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.26%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the garbage and recycling hauler had gained 2.27% in the past month. In that same time, the Business Services sector gained 9.73%, while the S&P 500 gained 6.07%.
Investors will be hoping for strength from Waste Management as it approaches its next earnings release, which is expected to be April 26, 2022. In that report, analysts expect Waste Management to post earnings of $1.12 per share. This would mark year-over-year growth of 5.66%. Our most recent consensus estimate is calling for quarterly revenue of $4.45 billion, up 8.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.38 per share and revenue of $19.03 billion, which would represent changes of +11.16% and +6.1%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Waste Management. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Waste Management is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Waste Management is currently trading at a Forward P/E ratio of 29.65. This valuation marks a premium compared to its industry's average Forward P/E of 26.83.
It is also worth noting that WM currently has a PEG ratio of 2.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Waste Removal Services was holding an average PEG ratio of 2.84 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WM in the coming trading sessions, be sure to utilize Zacks.com.