Q3 2016 Earnings Estimate for Waste Management Inc. Issued By First Analysis (WM)
Waste Management Inc. (NYSE:WM) – Stock analysts at First Analysis increased their Q3 2016 EPS estimates for Waste Management in a research report issued on Monday. First Analysis analyst C. Greendale now anticipates that the firm will post earnings of $0.80 per share for the quarter, up from their prior estimate of $0.78. First Analysis also issued estimates for Waste Management’s Q4 2016 earnings at $0.75 EPS and FY2017 earnings at $3.08 EPS.
A number of other equities analysts have also weighed in on the company. Imperial Capital upped their target price on Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a research report on Friday, July 29th. Barclays PLC lowered Waste Management from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $66.00 to $70.00 in a research report on Tuesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 target price (up from $70.00) on shares of Waste Management in a research report on Monday, July 18th. Argus reaffirmed a “buy” rating and set a $72.00 target price on shares of Waste Management in a research report on Wednesday, August 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Waste Management in a research report on Thursday, July 14th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Waste Management currently has a consensus rating of “Buy” and an average price target of $67.34.
Waste Management (NYSE:WM) traded up 0.44% during trading on Wednesday, reaching $63.50. 775,759 shares of the company’s stock were exchanged. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 24.81 and a beta of 0.58. The firm’s 50-day moving average price is $64.68 and its 200-day moving average price is $62.29. Waste Management has a 12 month low of $48.98 and a 12 month high of $70.50.
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Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The firm earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, September 7th. Waste Management’s dividend payout ratio is presently 63.81%.
In other news, Director Thomas H. Weidemeyer sold 449 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $67.58, for a total transaction of $30,343.42. Following the completion of the transaction, the director now owns 24,383 shares in the company, valued at approximately $1,647,803.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Don P. Carpenter sold 1,634 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $66.13, for a total value of $108,056.42. Following the transaction, the vice president now owns 19,865 shares of the company’s stock, valued at approximately $1,313,672.45. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WM. Commonwealth Equity Services Inc increased its position in Waste Management by 6.3% in the first quarter. Commonwealth Equity Services Inc now owns 168,440 shares of the company’s stock valued at $9,938,000 after buying an additional 9,976 shares during the last quarter. Wellington Management Group LLP increased its position in Waste Management by 2.7% in the first quarter. Wellington Management Group LLP now owns 7,836,448 shares of the company’s stock valued at $462,350,000 after buying an additional 203,375 shares during the last quarter. Shell Asset Management Co. increased its position in Waste Management by 1.0% in the second quarter. Shell Asset Management Co. now owns 303,191 shares of the company’s stock valued at $20,092,000 after buying an additional 3,081 shares during the last quarter. BlackRock Group LTD increased its position in Waste Management by 10.1% in the first quarter. BlackRock Group LTD now owns 4,107,659 shares of the company’s stock valued at $242,351,000 after buying an additional 377,447 shares during the last quarter. Finally, Vestor Capital LLC increased its position in Waste Management by 0.3% in the second quarter. Vestor Capital LLC now owns 118,787 shares of the company’s stock valued at $7,872,000 after buying an additional 365 shares during the last quarter. Institutional investors own 75.21% of the company’s stock.
About Waste Management
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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