Waste Management’s (WM) “Buy” Rating Reiterated at BMO Capital Markets
Waste Management, Inc. (NYSE:WM)‘s stock had its “buy” rating reissued by analysts at BMO Capital Markets in a report issued on Friday. They currently have a $82.00 price objective on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 6.33% from the company’s current price.
A number of other research firms also recently weighed in on WM. Oppenheimer Holdings, Inc. upped their target price on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, June 22nd. Stifel Nicolaus upped their target price on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Credit Suisse Group upped their target price on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Finally, KeyCorp upped their target price on Waste Management from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Waste Management has an average rating of “Hold” and an average target price of $76.19.
Waste Management (NYSE:WM) opened at 77.12 on Friday. The firm’s 50-day moving average price is $75.71 and its 200 day moving average price is $73.67. Waste Management has a 1-year low of $61.08 and a 1-year high of $77.52. The firm has a market capitalization of $33.94 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. On average, analysts predict that Waste Management will post $3.19 EPS for the current year.
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In other news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the transaction, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new position in Waste Management in the 2nd quarter worth about $101,000. Northwest Investment Counselors LLC acquired a new position in Waste Management in the 2nd quarter worth about $103,000. Bruderman Asset Management LLC acquired a new position in Waste Management in the 2nd quarter worth about $110,000. Guardian Life Insurance Co. of America increased its holdings in Waste Management by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after purchasing an additional 14 shares in the last quarter. Finally, FTB Advisors Inc. increased its holdings in Waste Management by 4.3% in the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares in the last quarter. 74.99% of the stock is owned by 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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