We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Waste Management (WM) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Waste Management (WM - Free Report) closed at $153.88 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's 1.17% loss on the day. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Coming into today, shares of the garbage and recycling hauler had lost 5.02% in the past month. In that same time, the Business Services sector lost 4.42%, while the S&P 500 lost 5.25%.
Wall Street will be looking for positivity from Waste Management as it approaches its next earnings report date. This is expected to be February 1, 2023. In that report, analysts expect Waste Management to post earnings of $1.42 per share. This would mark year-over-year growth of 12.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.98 billion, up 6.56% from the year-ago period.
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, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. Waste Management currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Waste Management is holding a Forward P/E ratio of 25.33. This valuation marks a premium compared to its industry's average Forward P/E of 21.42.
Also, we should mention that WM has a PEG ratio of 2.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Waste Removal Services was holding an average PEG ratio of 2.22 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 192, putting it in the bottom 24% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Waste Management (WM) Dips More Than Broader Markets: What You Should Know
Waste Management (WM - Free Report) closed at $153.88 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's 1.17% loss on the day. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Coming into today, shares of the garbage and recycling hauler had lost 5.02% in the past month. In that same time, the Business Services sector lost 4.42%, while the S&P 500 lost 5.25%.
Wall Street will be looking for positivity from Waste Management as it approaches its next earnings report date. This is expected to be February 1, 2023. In that report, analysts expect Waste Management to post earnings of $1.42 per share. This would mark year-over-year growth of 12.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.98 billion, up 6.56% from the year-ago period.
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, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. Waste Management currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Waste Management is holding a Forward P/E ratio of 25.33. This valuation marks a premium compared to its industry's average Forward P/E of 21.42.
Also, we should mention that WM has a PEG ratio of 2.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Waste Removal Services was holding an average PEG ratio of 2.22 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 192, putting it in the bottom 24% 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.