Zacks: Analysts Anticipate Waste Management, Inc. (WM) Will Post Quarterly Sales of $3.64 Billion
Wall Street analysts expect Waste Management, Inc. (NYSE:WM) to post sales of $3.64 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Waste Management’s earnings, with the highest sales estimate coming in at $3.68 billion and the lowest estimate coming in at $3.61 billion. Waste Management posted sales of $3.43 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The company is scheduled to announce its next earnings report before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that Waste Management will report full-year sales of $3.64 billion for the current financial year, with estimates ranging from $14.05 billion to $14.48 billion. For the next financial year, analysts anticipate that the company will report sales of $14.84 billion per share, with estimates ranging from $14.56 billion to $15.08 billion. Zacks’ sales calculations are an 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 (EPS) 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 company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis.
A number of research firms have weighed in on WM. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. boosted their target price on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. Credit Suisse Group AG boosted their target price on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets started coverage on shares of Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Waste Management currently has a consensus rating of “Buy” and an average target price of $74.94.
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Waste Management (WM) traded up 0.49% on Friday, hitting $75.37. 1,385,563 shares of the stock were exchanged. Waste Management has a 1-year low of $61.08 and a 1-year high of $75.42. The stock has a market cap of $33.31 billion, a PE ratio of 27.50 and a beta of 0.71. The company’s 50 day moving average is $73.71 and its 200 day moving average is $72.29.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a dividend of $0.425 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.70 annualized dividend and a yield of 2.26%. Waste Management’s dividend payout ratio (DPR) is 62.04%.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $72.25, for a total transaction of $252,875.00. Following the transaction, the chief executive officer now owns 154,662 shares in the company, valued at approximately $11,174,329.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,940 shares of company stock worth $575,603. 0.19% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock valued at $100,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Waste Management during the second quarter valued at $103,000. Guardian Life Insurance Co. of America boosted its stake in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Waste Management during the first quarter valued at $127,000. Finally, Parallel Advisors LLC boosted its stake in shares of Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock valued at $130,000 after buying an additional 493 shares in the last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.
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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