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Why Clean Harbors (CLH) Gained 28.4% in the Past 6 Months
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Shares of Clean Harbors, Inc. (CLH - Free Report) have gained 28.4% in the past six months compared with 2.2% rise of the industry it belongs to.
Image Source: Zacks Investment Research
The upside was primarily driven by solid capital investments and strong shareholder-friendly measures.
Reasons for Upside
We are impressed with Clean Harbors’ consistent record of returning value to shareholders in the form of share repurchases. In 2021, 2020 and 2019, the company had repurchased shares worth $54.4 million, $74.8 million and $21.4 million, respectively.
Such moves indicate the company’s commitment to create value for shareholders and underline its confidence in its business. These initiatives not only instill investors’ confidence but also positively impact earnings per share.
Clean Harbors continues to make capital investments to enhance its quality and comply with government and local regulations. The current regulatory requirements are cost intensive and complicated for in-house disposal facilities. These, in turn, compel most companies to outsource their hazardous waste disposal needs.
This is where Clean Harbors steps in with its suitable disposal firms in Canada and the United States. Moreover, Clean Harbors has a diversified customer base ranging from Fortune 500 companies to midsize and small public and private entities, which provide it with stable and recurring sources of revenues.
Favorable Estimate Revision
Driven by the above tailwinds, the Zacks Consensus Estimate for current-year earnings has moved up 7.1% to $7.26 per share in the past 90 days.
Some better-ranked stocks in the broader Zacks Business Services sector are Booz Allen Hamilton Holding Corporation (BAH - Free Report) and Cross Country Healthcare, Inc. (CCRN - Free Report) .
Booz Allen carries a Zacks Rank #2 (Buy) at present. BAH has a long-term earnings growth expectation of 8.9%.
Booz Allen delivered a trailing four-quarter earnings surprise of 8.8%, on average.
Cross Country Healthcare is currently Zacks #2 Ranked. CCRN has a long-term earnings growth expectation of 6%.
CCRN delivered a trailing four-quarter earnings surprise of 10.1%, on average.
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Why Clean Harbors (CLH) Gained 28.4% in the Past 6 Months
Shares of Clean Harbors, Inc. (CLH - Free Report) have gained 28.4% in the past six months compared with 2.2% rise of the industry it belongs to.
Image Source: Zacks Investment Research
The upside was primarily driven by solid capital investments and strong shareholder-friendly measures.
Reasons for Upside
We are impressed with Clean Harbors’ consistent record of returning value to shareholders in the form of share repurchases. In 2021, 2020 and 2019, the company had repurchased shares worth $54.4 million, $74.8 million and $21.4 million, respectively.
Such moves indicate the company’s commitment to create value for shareholders and underline its confidence in its business. These initiatives not only instill investors’ confidence but also positively impact earnings per share.
Clean Harbors continues to make capital investments to enhance its quality and comply with government and local regulations. The current regulatory requirements are cost intensive and complicated for in-house disposal facilities. These, in turn, compel most companies to outsource their hazardous waste disposal needs.
This is where Clean Harbors steps in with its suitable disposal firms in Canada and the United States. Moreover, Clean Harbors has a diversified customer base ranging from Fortune 500 companies to midsize and small public and private entities, which provide it with stable and recurring sources of revenues.
Favorable Estimate Revision
Driven by the above tailwinds, the Zacks Consensus Estimate for current-year earnings has moved up 7.1% to $7.26 per share in the past 90 days.
Zacks Rank and Stocks to Consider
Clean Harbors currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Booz Allen Hamilton Holding Corporation (BAH - Free Report) and Cross Country Healthcare, Inc. (CCRN - Free Report) .
Booz Allen carries a Zacks Rank #2 (Buy) at present. BAH has a long-term earnings growth expectation of 8.9%.
Booz Allen delivered a trailing four-quarter earnings surprise of 8.8%, on average.
Cross Country Healthcare is currently Zacks #2 Ranked. CCRN has a long-term earnings growth expectation of 6%.
CCRN delivered a trailing four-quarter earnings surprise of 10.1%, on average.