Why Waste Connections (WCN) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
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 A 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 up 1.2% over the past one week and up 9% over the past four weeks. And in the last one-year period, WCN has gained 25%. As for the stock's trading volume, 1,057,204.88 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.10 to $4.83 per share. WCN boasts an average earnings surprise of 1.9%.
Investors should take the time to consider WCN for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Waste Connections, Inc. (WCN) : Free Stock Analysis Report
