Zacks: Analysts Anticipate Waste Management, Inc. (WM) to Post $0.88 Earnings Per Share
Equities analysts forecast that Waste Management, Inc. (NYSE:WM) will announce $0.88 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Waste Management’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.90. Waste Management posted earnings of $0.84 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Waste Management will report full year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $3.15 to $3.21. For the next fiscal year, analysts forecast that the business will report earnings of $3.48 per share, with EPS estimates ranging from $3.43 to $3.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Waste Management.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period last year, the business posted $0.74 EPS. Waste Management’s revenue for the quarter was up 7.4% on a year-over-year basis.
WM has been the subject of several research analyst reports. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Credit Suisse Group upped their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. BMO Capital Markets started coverage on Waste Management in a research report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price for the company. Finally, Oppenheimer Holdings, Inc. upped their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $76.19.
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Shares of Waste Management (NYSE:WM) traded down 0.06% during trading on Friday, reaching $77.79. The company had a trading volume of 443,319 shares. The firm has a 50-day moving average of $76.03 and a 200 day moving average of $73.81. Waste Management has a 52 week low of $61.08 and a 52 week high of $78.39. The firm has a market capitalization of $34.23 billion, a price-to-earnings ratio of 26.64 and a beta of 0.71.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 7th. Waste Management’s payout ratio is 58.42%.
In related news, Director John C. Pope sold 453 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the transaction, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick W. Gross sold 487 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. purchased a new position in Waste Management in the second quarter valued at about $101,000. Northwest Investment Counselors LLC purchased a new position in Waste Management in the second quarter valued at about $103,000. Bruderman Asset Management LLC purchased a new position in Waste Management in the second quarter valued at about $110,000. Guardian Life Insurance Co. of America boosted its holdings in 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 purchasing an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. boosted its holdings in Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 65 shares during the last quarter. 74.99% 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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