Zacks: Analysts Anticipate Waste Management, Inc. (WM) to Post $0.82 Earnings Per Share
Wall Street brokerages expect Waste Management, Inc. (NYSE:WM) to report earnings per share of $0.82 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Waste Management’s earnings. The highest EPS estimate is $0.83 and the lowest is $0.79. Waste Management posted earnings of $0.74 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.8%. The business is expected to report its next earnings results before the market opens on Wednesday, July 26th.
On average, analysts expect that Waste Management will report full-year earnings of $3.18 per share for the current year, with EPS estimates ranging from $3.15 to $3.21. For the next financial year, analysts forecast that the company will report earnings of $3.44 per share, with EPS estimates ranging from $3.40 to $3.48. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Waste Management.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. Waste Management had a net margin of 8.81% and a return on equity of 24.76%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the company posted $0.58 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis.
Several brokerages have commented on WM. Oppenheimer Holdings, Inc. boosted their price target on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, June 22nd. BMO Capital Markets started coverage on Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target on the stock. Stifel Nicolaus lifted their price target on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Credit Suisse Group lifted their price target on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.94.
In other news, SVP Barry H. Caldwell sold 8,142 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $73.52, for a total transaction of $598,599.84. Following the sale, the senior vice president now directly owns 35,916 shares in the company, valued at $2,640,544.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the sale, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,082 shares of company stock worth $1,174,203. 0.19% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in WM. Vanguard Group Inc. boosted its stake in Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock worth $2,388,388,000 after buying an additional 1,790,546 shares in the last quarter. BlackRock Inc. boosted its stake in Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares in the last quarter. State Street Corp boosted its stake in Waste Management by 0.6% in the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock worth $1,552,295,000 after buying an additional 134,152 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Waste Management by 5.2% in the first quarter. Wells Fargo & Company MN now owns 7,327,831 shares of the business services provider’s stock worth $534,346,000 after buying an additional 362,315 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Waste Management by 10.2% in the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock worth $409,399,000 after buying an additional 518,270 shares in the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Waste Management (NYSE:WM) opened at 74.92 on Thursday. The firm has a market capitalization of $33.11 billion, a PE ratio of 27.33 and a beta of 0.71. Waste Management has a 1-year low of $61.08 and a 1-year high of $75.07. The stock’s 50 day moving average is $73.65 and its 200-day moving average is $72.27.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Wednesday, June 7th. Waste Management’s dividend payout ratio is presently 62.04%.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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