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Waste Management (WM) Gains As Market Dips: What You Should Know
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In the latest trading session, Waste Management (WM - Free Report) closed at $211.77, marking a +0.28% move from the previous day. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
Shares of the garbage and recycling hauler witnessed a gain of 5.13% over the previous month, beating the performance of the Business Services sector with its gain of 0.29% and the S&P 500's gain of 5.11%.
Analysts and investors alike will be keeping a close eye on the performance of Waste Management in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024. The company is forecasted to report an EPS of $1.81, showcasing a 19.87% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $5.41 billion, indicating a 5.7% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.31 per share and revenue of $21.55 billion. These totals would mark changes of +18.09% and +5.48%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Waste Management. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Waste Management boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Waste Management currently has a Forward P/E ratio of 28.9. This valuation marks a premium compared to its industry's average Forward P/E of 27.93.
Also, we should mention that WM has a PEG ratio of 2.46. 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 2.67 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Waste Management (WM) Gains As Market Dips: What You Should Know
In the latest trading session, Waste Management (WM - Free Report) closed at $211.77, marking a +0.28% move from the previous day. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
Shares of the garbage and recycling hauler witnessed a gain of 5.13% over the previous month, beating the performance of the Business Services sector with its gain of 0.29% and the S&P 500's gain of 5.11%.
Analysts and investors alike will be keeping a close eye on the performance of Waste Management in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024. The company is forecasted to report an EPS of $1.81, showcasing a 19.87% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $5.41 billion, indicating a 5.7% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.31 per share and revenue of $21.55 billion. These totals would mark changes of +18.09% and +5.48%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Waste Management. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Waste Management boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Waste Management currently has a Forward P/E ratio of 28.9. This valuation marks a premium compared to its industry's average Forward P/E of 27.93.
Also, we should mention that WM has a PEG ratio of 2.46. 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 2.67 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.