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Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Waste Management (WM - Free Report) closed at $216.94, marking a -1.14% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.
Shares of the garbage and recycling hauler witnessed a loss of 0.17% over the previous month, beating the performance of the Business Services sector with its loss of 1.04%, and underperforming the S&P 500's gain of 0.48%.
The upcoming earnings release of Waste Management will be of great interest to investors. The company's upcoming EPS is projected at $2.01, signifying a 4.69% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.69 billion, indicating a 4.03% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $8.15 per share and a revenue of $26.5 billion, demonstrating changes of +8.67% and +5.13%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Waste Management. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. Right now, Waste Management possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Waste Management is currently exchanging hands at a Forward P/E ratio of 26.91. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 26.91.
One should further note that WM currently holds a PEG ratio of 2.29. 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 of the close of trade yesterday, the Waste Removal Services industry held an average PEG ratio of 2.29.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Waste Management (WM - Free Report) closed at $216.94, marking a -1.14% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.
Shares of the garbage and recycling hauler witnessed a loss of 0.17% over the previous month, beating the performance of the Business Services sector with its loss of 1.04%, and underperforming the S&P 500's gain of 0.48%.
The upcoming earnings release of Waste Management will be of great interest to investors. The company's upcoming EPS is projected at $2.01, signifying a 4.69% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.69 billion, indicating a 4.03% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $8.15 per share and a revenue of $26.5 billion, demonstrating changes of +8.67% and +5.13%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Waste Management. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. Right now, Waste Management possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Waste Management is currently exchanging hands at a Forward P/E ratio of 26.91. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 26.91.
One should further note that WM currently holds a PEG ratio of 2.29. 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 of the close of trade yesterday, the Waste Removal Services industry held an average PEG ratio of 2.29.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.