What's Happening With WM
Waste Management (WM) is scheduled to release its fourth-quarter numbers ahead of the opening bell on February 16. Wall Street expects earnings of 77 cents per share on revenue of $3.42 billion. The stock rallied after the presidential election, but has been in a sideways trend the last two months, and is currently up a modest 0.3% on the year.
WM was recently trading at $70.73, down $1.05 from its 12-month high and $18.50 above its 12-month low. Overall technical indicators for WM are bullish but the stock is stuck in a sideways trend. The stock has recent support above $69.00, and recent resistance below $71.50. Of the nine analysts who cover the stock, five rate it a “strong buy”, and four rate it a “hold”. The stock receives S&P Capital IQ’s 4 STARS “Buy” ranking.
Waste Management has a strong earnings track record, posting better than expected earnings each of the last 11 quarters. The company has topped sales estimates in each of the last three quarters. Wall Street appears upbeat on the potential for another earnings beat, with the street setting a whisper number of 79 cents for the quarter, two pennies above the consensus. The stock has been strong over the last year, but appears to have hit a ceiling, and will need a good report in order to break through resistance and hit a new all-time high. The stock has a P/E of 28.3, and earnings are forecast to rise 8.2% this year.
About Waste Management Inc.
Waste Management Inc is the provider of comprehensive waste management environmental services. The Company serves to manage & reduce waste at each stage from collection to disposal, while recovering valuable resources & creating clean, renewable energy.