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Waste Management (WM) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Waste Management (WM - Free Report) closed at $223.32, marking a +1.1% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
Heading into today, shares of the garbage and recycling hauler had gained 6.25% over the past month, outpacing the Business Services sector's gain of 0.5% and the S&P 500's gain of 4.43% in that time.
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. On that day, Waste Management is projected to report earnings of $1.82 per share, which would represent year-over-year growth of 20.53%. Simultaneously, our latest consensus estimate expects the revenue to be $5.41 billion, showing a 5.71% escalation compared to the year-ago quarter.
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 should also take note of any recent adjustments 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. Right now, Waste Management possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Waste Management is currently trading at a Forward P/E ratio of 30.21. For comparison, its industry has an average Forward P/E of 29.27, which means Waste Management is trading at a premium to the group.
We can also see that WM currently has a PEG ratio of 2.57. 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. WM's industry had an average PEG ratio of 2.8 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 102, positioning it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Waste Management (WM - Free Report) closed at $223.32, marking a +1.1% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
Heading into today, shares of the garbage and recycling hauler had gained 6.25% over the past month, outpacing the Business Services sector's gain of 0.5% and the S&P 500's gain of 4.43% in that time.
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. On that day, Waste Management is projected to report earnings of $1.82 per share, which would represent year-over-year growth of 20.53%. Simultaneously, our latest consensus estimate expects the revenue to be $5.41 billion, showing a 5.71% escalation compared to the year-ago quarter.
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 should also take note of any recent adjustments 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. Right now, Waste Management possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Waste Management is currently trading at a Forward P/E ratio of 30.21. For comparison, its industry has an average Forward P/E of 29.27, which means Waste Management is trading at a premium to the group.
We can also see that WM currently has a PEG ratio of 2.57. 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. WM's industry had an average PEG ratio of 2.8 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 102, positioning it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.