Analysts Expect Waste Management, Inc. (NYSE:WM) Will Post Quarterly Sales of $3.72 Billion
Equities research analysts expect that Waste Management, Inc. (NYSE:WM) will announce $3.72 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Waste Management’s earnings, with the lowest sales estimate coming in at $3.67 billion and the highest estimate coming in at $3.74 billion. Waste Management reported sales of $3.55 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The company is expected to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Waste Management will report full year sales of $3.72 billion for the current fiscal year, with estimates ranging from $14.05 billion to $14.52 billion. For the next year, analysts forecast that the company will report sales of $14.87 billion per share, with estimates ranging from $14.56 billion to $15.11 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Waste Management.
Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, June 22nd. BMO Capital Markets assumed coverage on shares of Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price target for the company. Stifel Nicolaus upped their price target on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, Credit Suisse Group upped their price target on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.51.
In related news, Director John C. Pope sold 453 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $72.25, for a total transaction of $252,875.00. Following the completion of the sale, the chief executive officer now directly owns 154,662 shares of the company’s stock, valued at $11,174,329.50. The disclosure for this sale can be found here. Insiders sold a total of 7,940 shares of company stock valued at $575,603 over the last three months. 0.19% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised 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 worth $100,000 after buying an additional 78 shares during the period. Shine Investment Advisory Services Inc. bought a new stake in shares of Waste Management during the second quarter worth about $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the second quarter worth about $103,000. Bruderman Asset Management LLC bought a new stake in shares of Waste Management during the second quarter worth about $110,000. Finally, Guardian Life Insurance Co. of America raised 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 worth $114,000 after buying an additional 14 shares during the period. 75.59% of the stock is owned by institutional investors.
Waste Management (WM) traded up 0.41% during trading on Friday, reaching $75.12. 269,318 shares of the company were exchanged. The firm’s 50-day moving average is $74.45 and its 200 day moving average is $72.82. The company has a market capitalization of $33.06 billion, a P/E ratio of 25.73 and a beta of 0.71. Waste Management has a one year low of $61.08 and a one year high of $76.00.
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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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