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Waste Management (WM) Stock Falls Amid Market Uptick: What Investors Need to Know
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Waste Management (WM - Free Report) closed the most recent trading day at $207.04, moving -1.92% from the previous trading session. This change lagged the S&P 500's 1.49% gain on the day. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 2.26%.
The stock of garbage and recycling hauler has fallen by 5.78% in the past month, lagging the Business Services sector's loss of 3.77% and the S&P 500's gain of 0.1%.
The upcoming earnings release of Waste Management will be of great interest to investors. On that day, Waste Management is projected to report earnings of $2.18 per share, which would represent year-over-year growth of 10.1%. Meanwhile, the latest consensus estimate predicts the revenue to be $6.79 billion, indicating a 5.34% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.13 per share and revenue of $26.35 billion, which would represent changes of +8.4% and +4.54%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Waste Management. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.02% fall in the Zacks Consensus EPS estimate. Currently, Waste Management is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Waste Management is currently being traded at a Forward P/E ratio of 25.97. This expresses a premium compared to the average Forward P/E of 25.67 of its industry.
We can also see that WM currently has a PEG ratio of 2.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. WM's industry had an average PEG ratio of 2.66 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 107, positioning it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Waste Management (WM) Stock Falls Amid Market Uptick: What Investors Need to Know
Waste Management (WM - Free Report) closed the most recent trading day at $207.04, moving -1.92% from the previous trading session. This change lagged the S&P 500's 1.49% gain on the day. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 2.26%.
The stock of garbage and recycling hauler has fallen by 5.78% in the past month, lagging the Business Services sector's loss of 3.77% and the S&P 500's gain of 0.1%.
The upcoming earnings release of Waste Management will be of great interest to investors. On that day, Waste Management is projected to report earnings of $2.18 per share, which would represent year-over-year growth of 10.1%. Meanwhile, the latest consensus estimate predicts the revenue to be $6.79 billion, indicating a 5.34% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.13 per share and revenue of $26.35 billion, which would represent changes of +8.4% and +4.54%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Waste Management. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.02% fall in the Zacks Consensus EPS estimate. Currently, Waste Management is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Waste Management is currently being traded at a Forward P/E ratio of 25.97. This expresses a premium compared to the average Forward P/E of 25.67 of its industry.
We can also see that WM currently has a PEG ratio of 2.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. WM's industry had an average PEG ratio of 2.66 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 107, positioning it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.