Waste Management, Inc. (WM - Free Report) , a leading provider of environmental waste mitigation and remediation solutions in North America, recently inked a Master Services Agreement with Empire Diversified Energy, Inc.
Empire Diversified offers full-service solutions to the dynamic changing requirements of the Energy Industry. The company designs, manufactures and sells electric motor-powered off-road vehicles, zero-emission vehicles and related products. At present, the company is working to reduce fly ash problems that currently exist at all major power plants across the world.
Under this joint venture, the companies will potentially provide CCR (Coal Combustion Residues) solutions to a number of power generating plants across the U.S. Vast experience and expertise of both the companies in this field will enable them to provide improved services to their customers. Thus, the latest joint venture will help them gain an edge over their peers and boost revenues going forward.
Headquartered in Houston, TX, Waste Management provides collection, transfer, recycling and resource recovery, as well as disposal services to nearly 20 million residential, commercial, industrial and municipal customers. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the U.S.
Waste Management has been successfully executing initiatives to focus on core business activities, and develop price and cost discipline in order to achieve higher margins. At the same time, the company aims to increase customer retention through better service and higher-value solutions. Waste Management's successful cost-reduction initiatives have already helped it to achieve remarkable gross margin expansion and EBITDA growth during the recent quarters.
Waste Management currently carries a Zacks Rank #2 (Buy). Other favorably placed stocks include Accenture plc (ACN - Free Report) , LogMeIn, Inc. (LOGM - Free Report) and Carbonite, Inc. (CARB - Free Report) . Accenture carries a Zacks Rank #2 (Buy), whereas LogMeIn and Carbonite both sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Accenture has a long-term earnings growth expectation of 10.1% and is currently trading at a forward P/E of 19.6x.
LogMeIn has a long-term earnings growth expectation of 22.5% and is currently trading at a forward P/E of 96.5x.
Carbonite has a long-term earnings growth expectation of 30.0% and is currently trading at a forward P/E of 85.2x.
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