Yahoo Finance Waste Management (WM) Dips More Than Broader Markets: What You Should Know
Waste Management (WM) closed at $148.83 in the latest trading session, marking a -0.62% move from the prior day. This move lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 15.51%.
Heading into today, shares of the garbage and recycling hauler had lost 3.21% over the past month, outpacing the Business Services sector's loss of 3.34% and lagging the S&P 500's loss of 2.53% in that time.
Wall Street will be looking for positivity from Waste Management as it approaches its next earnings report date. In that report, analysts expect Waste Management to post earnings of $1.29 per share. This would mark no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.87 billion, up 4.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.09 per share and revenue of $20.63 billion, which would represent changes of +8.94% and +4.75%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.46% lower within the past month. Waste Management is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Waste Management currently has a Forward P/E ratio of 24.59. This valuation marks a premium compared to its industry's average Forward P/E of 22.76.
It is also worth noting that WM currently has a PEG ratio of 2.26. 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. The Waste Removal Services was holding an average PEG ratio of 2.73 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Waste Management, Inc. (WM) : Free Stock Analysis Report
