Waste Management, Inc
) hit a 52-week high of $45.73 during yesterday's trading
session. However, the stock closed the session at $45.41, which
reflects a solid year-to-date return of 33.7%. The average
trading volume for last three months aggregated 1.7 million
Despite its strong price appreciation, this Zacks Rank #2
(Buy) stock still has enough fundamentals that may further drive
the stock upward. Its strong estimate revisions over the last 30
days and a long-term EPS growth expectation of 10.5% are some
catalysts driving the stock.
Impressive third-quarter 2013 results that comprised higher
sales across its businesses, top-line growth and new product
launches were the primary driving factors for Waste
On Oct 29, Waste Management reported third quarter net income
of $291 million or 62 cents per share that improved from $214
million or 46 cents per share in the year-ago quarter.
The company has been making efforts to increase its internal
revenue growth from yield. Coupled with that, Waste Management's
ongoing initiatives to reduce cost also added to its growth. We
also remain encouraged by the record top-line growth of the
company and expect it to continue its bull run in the coming
In addition, the company maintains a sound and flexible
balance sheet with ample liquidity that enables it to capitalize
on potential acquisition opportunities to fuel its top-line
Over the last 30 days, 3 out of 7 estimates for 2013 have been
revised upward while none of the estimates were revised lower,
which led to a 0.9% rise in the Zacks Consensus Estimate to $2.19
per share. For 2014, 3 out of 10 estimates moved upward, helping
the Zacks Consensus Estimate advance 0.8% to $2.38 per share.
Other Stocks to Consider
Other stocks that look promising and are worth a look now
Navigant Consulting Inc
Global Payments Inc.
Republic Services Inc.
), each having a Zacks Rank #2 (Buy).
GLOBAL PAYMENTS (GPN): Free Stock Analysis
NAVIGANT CONSLT (NCI): Free Stock Analysis
REPUBLIC SVCS (RSG): Free Stock Analysis
WASTE MGMT-NEW (WM): Free Stock Analysis
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