Stifel Nicolaus Upgrades Waste Management to “Buy” (WM)
Waste Management (NYSE:WM) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $55.00 price target on the stock. Stifel Nicolaus’ price target points to a potential upside of 18.10% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Imperial Capital raised their price target on shares of Waste Management from $50.00 to $51.00 in a research note on Thursday, July 31st. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Waste Management in a research note on Wednesday, July 30th. They now have a $53.00 price target on the stock, up previously from $50.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Waste Management in a research note on Wednesday, July 30th. They now have a $48.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $49.00.
In other Waste Management news, VP Devina A. Rankin sold 5,541 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $46.73, for a total transaction of $258,930.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Waste Management (NYSE:WM) opened at 46.57 on Wednesday. Waste Management has a 1-year low of $39.60 and a 1-year high of $46.92. The stock has a 50-day moving average of $45.02 and a 200-day moving average of $43.38. The company has a market cap of $21.720 billion and a price-to-earnings ratio of 175.43.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts predict that Waste Management will post $2.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Waste Management, Inc (NYSE:WM) is a provider of waste management services in North America.
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