Yahoo Finance Waste Management (WM) Gains As Market Dips: What You Should Know
Waste Management (WM) closed the most recent trading day at $207.07, moving +0.98% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
The garbage and recycling hauler's stock has dropped by 3.46% in the past month, exceeding the Business Services sector's loss of 6.12% and lagging the S&P 500's loss of 2.57%.
The investment community will be closely monitoring the performance of Waste Management in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. The company's earnings per share (EPS) are projected to be $1.52, reflecting a 16.03% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.2 billion, reflecting a 6.39% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.88 per share and revenue of $21.72 billion, indicating changes of +11.15% and +6.35%, respectively, compared to the previous 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, 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 0.04% lower within the past month. Waste Management presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Waste Management is presently being traded at a Forward P/E ratio of 29.82. This signifies a premium in comparison to the average Forward P/E of 25.85 for its industry.
Also, we should mention that WM has a PEG ratio of 3.11. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Waste Removal Services industry held an average PEG ratio of 2.67.
The Waste Removal Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Waste Management, Inc. (WM) : Free Stock Analysis Report
