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Waste Management (WM) Outpaces Stock Market Gains: What You Should Know
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Waste Management (WM - Free Report) ended the recent trading session at $212.23, demonstrating a +1.7% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
The garbage and recycling hauler's stock has climbed by 0.21% in the past month, falling short of the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41%.
Investors will be eagerly watching for the performance of Waste Management in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 28, 2024. The company is forecasted to report an EPS of $1.86, showcasing a 14.11% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.5 billion, showing a 5.82% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.24 per share and a revenue of $21.54 billion, demonstrating changes of +16.96% and +5.47%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Waste Management. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. As of now, Waste Management holds a Zacks Rank of #3 (Hold).
Investors should also note Waste Management's current valuation metrics, including its Forward P/E ratio of 28.82. This represents a premium compared to its industry's average Forward P/E of 27.17.
Meanwhile, WM's PEG ratio is currently 2.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Waste Removal Services stocks are, on average, holding a PEG ratio of 2.83 based on yesterday's closing prices.
The Waste Removal Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 21% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Waste Management (WM) Outpaces Stock Market Gains: What You Should Know
Waste Management (WM - Free Report) ended the recent trading session at $212.23, demonstrating a +1.7% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
The garbage and recycling hauler's stock has climbed by 0.21% in the past month, falling short of the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41%.
Investors will be eagerly watching for the performance of Waste Management in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 28, 2024. The company is forecasted to report an EPS of $1.86, showcasing a 14.11% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.5 billion, showing a 5.82% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.24 per share and a revenue of $21.54 billion, demonstrating changes of +16.96% and +5.47%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Waste Management. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. As of now, Waste Management holds a Zacks Rank of #3 (Hold).
Investors should also note Waste Management's current valuation metrics, including its Forward P/E ratio of 28.82. This represents a premium compared to its industry's average Forward P/E of 27.17.
Meanwhile, WM's PEG ratio is currently 2.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Waste Removal Services stocks are, on average, holding a PEG ratio of 2.83 based on yesterday's closing prices.
The Waste Removal Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 21% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.