Zacks: Brokerages Anticipate Waste Management, Inc. (WM) Will Announce Quarterly Sales of $3.71 Billion
Equities analysts expect Waste Management, Inc. (NYSE:WM) to announce sales of $3.71 billion for the current quarter, according to Zacks. Four analysts have made estimates for Waste Management’s earnings, with the lowest sales estimate coming in at $3.66 billion and the highest estimate coming in at $3.73 billion. Waste Management posted sales of $3.55 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that Waste Management will report full year sales of $3.71 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 firm will report sales of $14.84 billion per share, with estimates ranging from $14.56 billion to $14.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Waste Management.
Waste Management (NYSE:WM) last announced its quarterly 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 for 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 business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share.
A number of equities research analysts have commented on WM shares. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price target on shares of Waste Management in a research report on Friday, September 8th. Stifel Nicolaus upped their price target on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research downgraded Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. KeyCorp upped their price target on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, Oppenheimer Holdings, Inc. increased their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $78.74.
Shares of Waste Management (WM) opened at 77.72 on Tuesday. Waste Management has a one year low of $61.59 and a one year high of $79.28. The stock’s 50 day moving average price is $77.53 and its 200 day moving average price is $74.77. The company has a market cap of $34.20 billion, a PE ratio of 26.62 and a beta of 0.74.
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A number of institutional investors have recently bought and sold shares of the business. Hudock Capital Group LLC boosted its position in Waste Management by 0.6% during the 2nd quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America lifted its holdings in shares of Waste Management by 0.9% during 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. Lincoln National Corp lifted its holdings in shares of Waste Management by 0.5% during the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 21 shares during the last quarter. Choate Investment Advisors lifted its holdings in shares of Waste Management by 0.7% during the first quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 22 shares during the last quarter. Finally, Bridgewater Wealth & Financial Management LLC lifted its holdings in shares of Waste Management by 0.5% during the second quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 22 shares during the last quarter. 74.88% of the stock is currently owned by institutional investors and hedge funds.
Waste Management Company Profile
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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