Share on StockTwits

Waste Management (NYSE:WM) saw unusually-high trading volume on Tuesday after the company announced better than expected quarterly earnings, Analyst Ratings News reports. Approximately 2,454,085 shares were traded during mid-day trading, an increase of 96% from the previous session’s volume of 1,253,875 shares.The stock last traded at $45.29 and had previously closed at $43.89.

The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.01. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis.

WM has been the subject of a number of recent research reports. Analysts at Deutsche Bank initiated coverage on shares of Waste Management in a research note on Monday, June 9th. They set a “hold” rating and a $47.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Imperial Capital initiated coverage on shares of Waste Management in a research note on Tuesday, May 27th. They set an “outperform” rating and a $50.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Wedbush raised their price target on shares of Waste Management from $40.00 to $44.00 in a research note on Friday, May 9th. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.50.

In other Waste Management news, Director Frank M. Clark unloaded 702 shares of Waste Management stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $44.34, for a total transaction of $31,126.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

The stock has a 50-day moving average of $44.38 and a 200-day moving average of $42.89. The company has a market cap of $21.216 billion and a P/E ratio of 129.85.

Waste Management, Inc (NYSE:WM) is a provider of waste management services in North America.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.