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Clean Harbors (CLH) Stock Rises 15% in 3 Months: Here's How
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Clean Harbors, Inc. (CLH - Free Report) has had an impressive run over the past three months. The stock has gained 15.4% against the 0.3% decline of the industry it belongs to and the 5.1% rally of the Zacks S&P 500 composite.
Reasons Behind the Rally
Clean Harbors has an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 0.7%.
Being a leading provider of environmental and industrial services, CLH continues to benefit from ongoing trends like increasing environmental concerns, rapid industrialization, an increase in population, and active government measures to reduce illegal dumping. The company’s Environmental Services revenues grew 9.5% year over year in the first quarter of 2024, driven by organic growth from volumes and pricing, and the acquisitions of HEPACO and Thompson.
The HEPACO acquisition earlier this year aligns with Clean Harbors’ Vision 2027 long-term strategic plan, targeting growth by consistently delivering value across its business spectrum. It has enhanced the company's Environmental Services segment, significantly boosting customer acquisition and retention efforts. The 2023 acquisition of Thompson Industrial Services expanded the Environmental Services segment's industrial service operations in the southeastern region of the United States.
Clean Harbors’ consistent record of returning value to shareholders in the form of share repurchases is impressive. In 2023, 2022, and 2021, the company repurchased shares worth $51.2 million, $50.2 million and $54.4 million, respectively. This strategy instills investor confidence and positively impacts the bottom line.
Zacks Rank & Stocks to Consider
CLH currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the broader Zacks Business Services sector are Booz Allen Hamilton (BAH - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) .
Booz Allen Hamilton has a Zacks Rank of 2 (Buy) at present. BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.
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Clean Harbors (CLH) Stock Rises 15% in 3 Months: Here's How
Clean Harbors, Inc. (CLH - Free Report) has had an impressive run over the past three months. The stock has gained 15.4% against the 0.3% decline of the industry it belongs to and the 5.1% rally of the Zacks S&P 500 composite.
Reasons Behind the Rally
Clean Harbors has an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 0.7%.
Clean Harbors, Inc. Price
Clean Harbors, Inc. price | Clean Harbors, Inc. Quote
Being a leading provider of environmental and industrial services, CLH continues to benefit from ongoing trends like increasing environmental concerns, rapid industrialization, an increase in population, and active government measures to reduce illegal dumping. The company’s Environmental Services revenues grew 9.5% year over year in the first quarter of 2024, driven by organic growth from volumes and pricing, and the acquisitions of HEPACO and Thompson.
The HEPACO acquisition earlier this year aligns with Clean Harbors’ Vision 2027 long-term strategic plan, targeting growth by consistently delivering value across its business spectrum. It has enhanced the company's Environmental Services segment, significantly boosting customer acquisition and retention efforts. The 2023 acquisition of Thompson Industrial Services expanded the Environmental Services segment's industrial service operations in the southeastern region of the United States.
Clean Harbors’ consistent record of returning value to shareholders in the form of share repurchases is impressive. In 2023, 2022, and 2021, the company repurchased shares worth $51.2 million, $50.2 million and $54.4 million, respectively. This strategy instills investor confidence and positively impacts the bottom line.
Zacks Rank & Stocks to Consider
CLH currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the broader Zacks Business Services sector are Booz Allen Hamilton (BAH - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) .
Booz Allen Hamilton has a Zacks Rank of 2 (Buy) at present. BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.