Zacks: Analysts Anticipate Waste Management, Inc. (WM) Will Post Earnings of $0.88 Per Share
Wall Street analysts forecast that Waste Management, Inc. (NYSE:WM) will report earnings per share of $0.88 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Waste Management’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.87. Waste Management reported earnings per share of $0.84 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The business is scheduled to report its next earnings report before the market opens 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 expect that the company 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 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 released its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ 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 return on equity of 25.07% and a net margin of 9.18%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS.
Several brokerages have commented on WM. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 target price on shares of Waste Management in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. increased their target price on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. Credit Suisse Group increased their target price 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. Finally, Stifel Nicolaus raised their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.19.
In related news, Director John C. Pope sold 453 shares of Waste Management 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 transaction, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction that occurred on Tuesday, July 18th. The shares were 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 $1,734,218.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Waste Management by 5.0% in the second quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock worth $2,521,397,000 after acquiring an additional 1,621,347 shares during the period. BlackRock Inc. grew its position in shares of Waste Management by 4.9% in the second quarter. BlackRock Inc. now owns 31,637,903 shares of the business services provider’s stock valued at $2,320,637,000 after purchasing an additional 1,475,583 shares in the last quarter. State Street Corp grew its position in shares of 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 valued at $1,552,295,000 after purchasing an additional 134,152 shares in the last quarter. AQR Capital Management LLC grew its position in shares of 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 valued at $409,399,000 after purchasing an additional 518,270 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Waste Management by 7,400.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock valued at $316,712,000 after purchasing an additional 4,260,260 shares during the period. 74.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management (WM) opened at 79.28 on Wednesday. Waste Management has a 1-year low of $61.08 and a 1-year high of $79.28. The company has a 50-day moving average price of $77.22 and a 200 day moving average price of $74.33. The company has a market capitalization of $34.89 billion, a P/E ratio of 27.15 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.425 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.70 annualized dividend and a dividend yield of 2.14%. Waste Management’s payout ratio is 58.42%.
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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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