First Analysis Weighs in on Waste Management Inc.’s FY2016 Earnings (WM)
Waste Management Inc. (NYSE:WM) – Equities research analysts at First Analysis issued their FY2016 earnings per share (EPS) estimates for Waste Management in a report released on Monday. First Analysis analyst C. Greendale forecasts that the firm will post earnings of $2.86 per share for the year.
Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. Waste Management’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.67 earnings per share.
A number of other analysts have also recently commented on WM. Barclays PLC cut shares of Waste Management from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $66.00 to $70.00 in a research note on Tuesday, August 9th. Argus restated a “buy” rating and set a $72.00 price objective on shares of Waste Management in a research note on Wednesday, August 10th. KeyCorp restated a “hold” rating on shares of Waste Management in a research note on Thursday, July 14th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, June 29th. Finally, Imperial Capital lifted their price objective on shares of Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a research note on Friday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.34.
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Waste Management (NYSE:WM) traded up 0.164% during trading on Thursday, reaching $64.105. 3,421,054 shares of the company traded hands. Waste Management has a 52 week low of $48.98 and a 52 week high of $70.50. The company has a market capitalization of $28.35 billion, a P/E ratio of 25.051 and a beta of 0.58. The firm has a 50-day moving average price of $64.62 and a 200-day moving average price of $62.30.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.56%. The ex-dividend date is Wednesday, September 7th. Waste Management’s payout ratio is presently 63.81%.
In other news, EVP Puneet Bhasin sold 11,236 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $65.81, for a total transaction of $739,441.16. Following the completion of the sale, the executive vice president now owns 44,431 shares of the company’s stock, valued at $2,924,004.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Don P. Carpenter sold 1,634 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $66.13, for a total transaction of $108,056.42. Following the sale, the vice president now directly 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. 0.42% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Alexandria Capital LLC raised its stake in Waste Management by 2.7% in the second quarter. Alexandria Capital LLC now owns 1,583 shares of the company’s stock worth $105,000 after buying an additional 41 shares during the last quarter. Hudock Capital Group LLC raised its stake in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 1,715 shares of the company’s stock worth $113,000 after buying an additional 11 shares during the last quarter. Cribstone Capital Management LLC acquired a new stake in Waste Management during the second quarter worth about $132,000. Financial Architects Inc raised its stake in Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock worth $132,000 after buying an additional 16 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in Waste Management by 320.0% in the second quarter. Chicago Partners Investment Group LLC now owns 2,100 shares of the company’s stock worth $139,000 after buying an additional 1,600 shares during the last quarter. 75.21% of the stock is owned by institutional investors and hedge funds.
Waste Management Company Profile
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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