Clean Harbors (CLH) closed at $116.55 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's daily loss of 1.13%. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the environmental services company had gained 2.68% over the past month, outpacing the Business Services sector's loss of 9.45% and the S&P 500's loss of 7.59% in that time.
Investors will be hoping for strength from Clean Harbors as it approaches its next earnings release. On that day, Clean Harbors is projected to report earnings of $1.91 per share, which would represent year-over-year growth of 67.54%. Meanwhile, our latest consensus estimate is calling for revenue of $1.29 billion, up 36.09% from the prior-year quarter.
CLH's full-year Zacks Consensus Estimates are calling for earnings of $6.78 per share and revenue of $5.08 billion. These results would represent year-over-year changes of +86.26% and +33.43%, respectively.
It is also important to note the recent changes to analyst estimates for Clean Harbors. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Clean Harbors is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Clean Harbors has a Forward P/E ratio of 17.42 right now. For comparison, its industry has an average Forward P/E of 17.42, which means Clean Harbors is trading at a no noticeable deviation to the group.
The Waste Removal Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CLH in the coming trading sessions, be sure to utilize Zacks.com.
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Clean Harbors, Inc. (CLH): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
