Waste Management Trading Down 4.7% After Earnings Miss (WM)
Shares of Waste Management (NYSE:WM) fell 4.7% during trading on Tuesday after the company announced weaker than expected quarterly earnings, AnalystRatingsNetwork reports. The stock traded as low as $41.40 and last traded at $41.63, with a volume of 4,853,385 shares traded. The stock had previously closed at $43.67.
The company reported $0.56 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.60 by $0.04. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.58 billion.
WM has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Waste Management in a research note on Monday, January 27th. They now have a $44.00 price target on the stock. Analysts at Macquarie initiated coverage on shares of Waste Management in a research note on Tuesday, January 7th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Waste Management currently has a consensus rating of “Hold” and an average price target of $43.86.
The stock has a 50-day moving average of $42.91 and a 200-day moving average of $42.83. The company has a market cap of $19.570 billion and a price-to-earnings ratio of 22.06.
Waste Management, Inc (NYSE:WM) is a provider of waste management services in North America.
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