Waste Management Inc. (WM) Lowered to “Neutral” at Wedbush
Waste Management Inc. (NYSE:WM) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Thursday. They presently have a $68.00 target price on the stock, down from their prior target price of $73.00. Wedbush’s price target points to a potential upside of 8.25% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued research reports about the company. KeyCorp raised Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 target price on the stock in a research report on Tuesday, August 9th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, September 27th. Macquarie assumed coverage on Waste Management in a report on Thursday, August 25th. They issued a “neutral” rating and a $69.00 target price for the company. Argus reiterated a “buy” rating and issued a $72.00 target price on shares of Waste Management in a report on Wednesday, August 10th. Finally, Stifel Nicolaus upgraded Waste Management from a “market weight” rating to an “overweight” rating in a report on Monday, June 27th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Waste Management has a consensus rating of “Hold” and a consensus price target of $66.77.
Shares of Waste Management (NYSE:WM) opened at 62.82 on Thursday. Waste Management has a 52 week low of $50.36 and a 52 week high of $70.50. The company has a 50-day moving average price of $63.51 and a 200-day moving average price of $62.79. The stock has a market cap of $27.78 billion, a price-to-earnings ratio of 24.55 and a beta of 0.62.
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Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Waste Management will post $2.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, September 7th. Waste Management’s dividend payout ratio (DPR) is 63.81%.
In other news, SVP John J. Morris sold 12,738 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $66.75, for a total value of $850,261.50. Following the completion of the sale, the senior vice president now directly owns 29,696 shares of the company’s stock, valued at approximately $1,982,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Don P. Carpenter sold 1,634 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $66.13, for a total value of $108,056.42. Following the completion of the sale, the vice president now directly owns 19,865 shares of the company’s stock, valued at $1,313,672.45. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Alexandria Capital LLC increased 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 valued at $105,000 after buying an additional 41 shares during the last quarter. Hudock Capital Group LLC increased 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 purchased a new stake in Waste Management during the second quarter worth approximately $132,000. Financial Architects Inc increased 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 boosted its position in shares of 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 in the last quarter. 75.12% 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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