Here's Why Waste Connections (WCN) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
Waste Connections (WCN)
Waste Connections is an integrated solid waste services company that provides non-hazardous waste collection, transfer, disposal and recycling services across the U.S. and Canada. The company offers non-hazardous oilfield waste treatment, recovery and disposal services in several of the active natural resource producing areas in the United States, including the Permian, Bakken and Eagle Ford Basins through its R360 Environmental Solutions subsidiary.
WCN boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Waste Connections has seen some interesting price action recently; the stock is down 0% over the past one week and up 0.4% over the past four weeks. And in the last one-year period, WCN has gained 27.9%. As for the stock's trading volume, 846,527.50 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, eight analysts revised their earnings estimate higher in the last 60 days for WCN, while the Zacks Consensus Estimate has increased $0.10 to $4.85 per share. WCN also boasts an average earnings surprise of 1.9%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding WCN to their portfolios.
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Waste Connections, Inc. (WCN) : Free Stock Analysis Report
