Here's Why Republic Services (RSG) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Republic Services (RSG)
Republic Services is a leading provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services. As of Dec 31, 2022, the company operated through 353 collection operations, 233 transfer stations, 206 active landfills, 71 recycling centers, three treatment, recovery and disposal facilities, 20 treatment, storage and disposal facilities, 7 deep injection wells and 6 salt water disposal wells, across the United States and Canada. The company is engaged in 73 landfill gas-to-energy and renewable energy projects and had post-closure responsibility for 128 closed landfills.
RSG sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 1.5% and up 3.2% over the past one-week and four-week period, respectively, and Republic Services has gained 47.8% in the last one-year period as well. Additionally, an average of 1,229,846.25 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for RSG, while the Zacks Consensus Estimate has increased $0.05 to $6 per share. RSG also boasts an average earnings surprise of 8.8%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding RSG to their portfolios.
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Republic Services, Inc. (RSG) : Free Stock Analysis Report
