Wall Street analysts forecast that Waste Management (WM) will report quarterly earnings of $1.95 per share in its upcoming release, pointing to a year-over-year increase of 14.7%. It is anticipated that revenues will amount to $6.39 billion, exhibiting an increase of 8.4% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Waste Management metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Operating revenues- Recycling Processing and Sales' will reach $360.11 million. The estimate indicates a year-over-year change of -9.5%.
According to the collective judgment of analysts, 'Operating revenues- WM Renewable Energy' should come in at $149.45 million. The estimate indicates a year-over-year change of +60.7%.
Analysts expect 'Operating revenues- Corporate and Other' to come in at $5.18 million. The estimate points to a change of +3.6% from the year-ago quarter.
The combined assessment of analysts suggests that 'Internal Revenue Growth - Period-to-Period Change - Total - As a % of Total Company' will likely reach 8.1%. Compared to the current estimate, the company reported 13.0% in the same quarter of the previous year.
Analysts forecast 'Internal Revenue Growth - Period-to-Period Change - Internal revenue growth - As a % of Total Company' to reach 2.5%. Compared to the present estimate, the company reported 4.0% in the same quarter last year.
View all Key Company Metrics for Waste Management here>>>Shares of Waste Management have demonstrated returns of +3.5% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #3 (Hold), WM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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