Waste Connections (WCN) shares rallied 5.3% in the last trading session to close at $192.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.5% loss over the past four weeks.

The stock has recorded this price rise as the company benefited from price-led organic solid waste growth, coupled with improving commodities and ongoing acquisition activities.

This solid waste services provider is expected to post quarterly earnings of $1.07 per share in its upcoming report, which represents a year-over-year change of +2.9%. Revenues are expected to be $2.22 billion, up 7.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Waste Connections, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on WCN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Waste Connections is a member of the Zacks Waste Removal Services industry. One other stock in the same industry, Montrose Environmental (MEG), finished the last trading session 18.5% higher at $12.73. MEG has returned -38.9% over the past month.

For Montrose Environmental , the consensus EPS estimate for the upcoming report has changed -120.8% over the past month to -$0.12. This represents a change of -175% from what the company reported a year ago. Montrose Environmental currently has a Zacks Rank of #5 (Strong Sell).

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This article originally published on Zacks Investment Research (zacks.com).

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