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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 $157.03, marking a +0.1% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 4.72%.
Heading into today, shares of the garbage and recycling hauler had lost 6.5% over the past month, outpacing the Business Services sector's loss of 6.78% and lagging the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Waste Management as it approaches its next earnings release, which is expected to be February 1, 2023. On that day, Waste Management is projected to report earnings of $1.42 per share, which would represent year-over-year growth of 12.7%. Our most recent consensus estimate is calling for quarterly revenue of $4.98 billion, up 6.56% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Waste Management. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Waste Management is holding a Forward P/E ratio of 27.51. This represents a premium compared to its industry's average Forward P/E of 23.05.
It is also worth noting that WM currently has a PEG ratio of 2.19. 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. Waste Removal Services stocks are, on average, holding a PEG ratio of 2.19 based on yesterday's closing prices.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $157.03, marking a +0.1% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 4.72%.
Heading into today, shares of the garbage and recycling hauler had lost 6.5% over the past month, outpacing the Business Services sector's loss of 6.78% and lagging the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Waste Management as it approaches its next earnings release, which is expected to be February 1, 2023. On that day, Waste Management is projected to report earnings of $1.42 per share, which would represent year-over-year growth of 12.7%. Our most recent consensus estimate is calling for quarterly revenue of $4.98 billion, up 6.56% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Waste Management. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Waste Management is holding a Forward P/E ratio of 27.51. This represents a premium compared to its industry's average Forward P/E of 23.05.
It is also worth noting that WM currently has a PEG ratio of 2.19. 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. Waste Removal Services stocks are, on average, holding a PEG ratio of 2.19 based on yesterday's closing prices.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.