Equities Analysts Offer Predictions for Waste Management Inc.’s Q1 2017 Earnings (WM)
Waste Management Inc. (NYSE:WM) – Research analysts at Wedbush upped their Q1 2017 earnings estimates for shares of Waste Management in a report issued on Thursday. Wedbush analyst A. Kaschalk now anticipates that the firm will post earnings per share of $0.68 for the quarter, up from their prior forecast of $0.66. Wedbush currently has a “Neutral” rating and a $68.00 target price on the stock. Wedbush also issued estimates for Waste Management’s Q3 2017 earnings at $0.86 EPS, Q4 2017 earnings at $0.83 EPS, Q2 2018 earnings at $0.84 EPS and FY2018 earnings at $3.41 EPS.
Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the business earned $0.67 EPS. Waste Management’s revenue for the quarter was up 3.3% compared to the same quarter last year.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC lowered Waste Management from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $66.00 to $70.00 in a research note on Tuesday, August 9th. Imperial Capital lifted their price target on Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a research note on Friday, July 29th. Argus reissued a “buy” rating and set a $72.00 price target on shares of Waste Management in a research note on Wednesday, August 10th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Waste Management in a research note on Monday, July 18th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $66.77.
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Waste Management (NYSE:WM) opened at 61.88 on Monday. The firm has a market cap of $27.37 billion, a P/E ratio of 24.18 and a beta of 0.62. The firm’s 50-day moving average price is $63.31 and its 200-day moving average price is $62.80. Waste Management has a 52-week low of $50.36 and a 52-week high of $70.50.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.64 annualized dividend and a dividend yield of 2.65%. Waste Management’s dividend payout ratio is 63.81%.
In other news, VP Mark E. Schwartz sold 70,496 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $65.89, for a total transaction of $4,644,981.44. Following the completion of the sale, the vice president now owns 67,117 shares in the company, valued at $4,422,339.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas H. Weidemeyer sold 449 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $67.58, for a total value of $30,343.42. Following the sale, the director now owns 24,383 shares of the company’s stock, valued at approximately $1,647,803.14. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WM. Numeric Investors LLC increased its stake in Waste Management by 18,312.6% in the second quarter. Numeric Investors LLC now owns 1,436,180 shares of the company’s stock valued at $95,176,000 after buying an additional 1,428,380 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Waste Management by 11.0% in the second quarter. BlackRock Fund Advisors now owns 10,269,777 shares of the company’s stock valued at $680,578,000 after buying an additional 1,021,512 shares during the last quarter. Capital International Investors boosted its position in shares of Waste Management by 8.2% in the second quarter. Capital International Investors now owns 13,209,100 shares of the company’s stock valued at $875,367,000 after buying an additional 1,003,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Waste Management by 3.0% in the second quarter. Vanguard Group Inc. now owns 29,578,946 shares of the company’s stock valued at $1,960,198,000 after buying an additional 872,058 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Waste Management by 111.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,355,874 shares of the company’s stock valued at $89,856,000 after buying an additional 714,291 shares during the last quarter. Hedge funds and other institutional investors own 75.12% 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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