Waste Management (WM) closed the most recent trading day at $118.19, moving +0.02% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.65%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.46%.
Coming into today, shares of the garbage and recycling hauler had gained 3.75% in the past month. In that same time, the Business Services sector gained 2.28%, while the S&P 500 gained 4.11%.
WM will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2019. In that report, analysts expect WM to post earnings of $1.08 per share. This would mark year-over-year growth of 6.93%. Our most recent consensus estimate is calling for quarterly revenue of $3.94 billion, up 5.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.31 per share and revenue of $15.63 billion, which would represent changes of +2.62% and +4.82%, respectively, from the prior year.
Any recent changes to analyst estimates for WM should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. WM is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note WM's current valuation metrics, including its Forward P/E ratio of 27.43. This valuation marks a premium compared to its industry's average Forward P/E of 27.37.
We can also see that WM currently has a PEG ratio of 3.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WM's industry had an average PEG ratio of 3.03 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 24% 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.
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