Waste Management (WM) ended the recent trading session at $221.30, demonstrating a +2.39% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.26%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.97%.
Prior to today's trading, shares of the garbage and recycling hauler had gained 0.95% outpaced the Business Services sector's loss of 0.06% and the S&P 500's gain of 0.23%.
Market participants will be closely following the financial results of Waste Management in its upcoming release. The company's upcoming EPS is projected at $2.01, signifying a 4.69% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.69 billion, indicating a 4.03% upward movement from the same quarter last year.
WM's full-year Zacks Consensus Estimates are calling for earnings of $8.15 per share and revenue of $26.5 billion. These results would represent year-over-year changes of +8.67% and +5.13%, respectively.
Investors might also notice recent changes to analyst estimates for Waste Management. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Waste Management is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Waste Management's current valuation metrics, including its Forward P/E ratio of 26.5. Its industry sports an average Forward P/E of 26.5, so one might conclude that Waste Management is trading at no noticeable deviation comparatively.
We can also see that WM currently has a PEG ratio of 2.26. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Waste Removal Services industry had an average PEG ratio of 2.26.
The Waste Removal Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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, Inc. (WM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).