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Waste Management (WM) Outperforms Broader Market: What You Need to Know
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Waste Management (WM - Free Report) ended the recent trading session at $212.05, demonstrating a +1.39% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Shares of the garbage and recycling hauler have appreciated by 2.63% over the course of the past month, outperforming the Business Services sector's loss of 0.14%, and the S&P 500's gain of 0.89%.
Market participants will be closely following the financial results of Waste Management in its upcoming release. On that day, Waste Management is projected to report earnings of $1.97 per share, which would represent year-over-year growth of 15.88%. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 9.04% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.52 per share and a revenue of $25.28 billion, representing changes of +4.01% and +14.6%, respectively, from the prior year.
Any recent changes to analyst estimates for Waste Management should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Waste Management is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Waste Management is holding a Forward P/E ratio of 27.81. This indicates a discount in contrast to its industry's Forward P/E of 29.
Also, we should mention that WM has a PEG ratio of 2.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Waste Removal Services industry was having an average PEG ratio of 2.34.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Waste Management (WM) Outperforms Broader Market: What You Need to Know
Waste Management (WM - Free Report) ended the recent trading session at $212.05, demonstrating a +1.39% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Shares of the garbage and recycling hauler have appreciated by 2.63% over the course of the past month, outperforming the Business Services sector's loss of 0.14%, and the S&P 500's gain of 0.89%.
Market participants will be closely following the financial results of Waste Management in its upcoming release. On that day, Waste Management is projected to report earnings of $1.97 per share, which would represent year-over-year growth of 15.88%. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 9.04% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.52 per share and a revenue of $25.28 billion, representing changes of +4.01% and +14.6%, respectively, from the prior year.
Any recent changes to analyst estimates for Waste Management should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Waste Management is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Waste Management is holding a Forward P/E ratio of 27.81. This indicates a discount in contrast to its industry's Forward P/E of 29.
Also, we should mention that WM has a PEG ratio of 2.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Waste Removal Services industry was having an average PEG ratio of 2.34.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.