$3.56 Billion in Sales Expected for Waste Management, Inc. (WM) This Quarter
Analysts forecast that Waste Management, Inc. (NYSE:WM) will announce sales of $3.56 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Waste Management’s earnings. The highest sales estimate is $3.64 billion and the lowest is $3.51 billion. Waste Management reported sales of $3.46 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The firm is expected to report its next earnings results on Thursday, February 15th.
On average, analysts expect that Waste Management will report full year sales of $3.56 billion for the current fiscal year, with estimates ranging from $14.35 billion to $14.47 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $14.79 billion per share, with estimates ranging from $14.62 billion to $14.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Waste Management.
Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. Waste Management’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS.
A number of equities research analysts recently commented on WM shares. Bank of America Corporation decreased their price target on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. KeyCorp restated a “buy” rating and set a $88.00 price target on shares of Waste Management in a research report on Friday, October 27th. BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Waste Management in a research report on Friday, October 13th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, July 19th. Finally, Stifel Nicolaus increased their price target on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $81.81.
Shares of Waste Management (WM) opened at $81.32 on Monday. The company has a market capitalization of $35,310.45, a P/E ratio of 26.06, a P/E/G ratio of 2.64 and a beta of 0.76. Waste Management has a 12-month low of $66.40 and a 12-month high of $82.87. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s dividend payout ratio is 54.84%.
A number of large investors have recently bought and sold shares of WM. BlackRock Inc. lifted its holdings in Waste Management by 2,611.5% during the 1st quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in 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 worth $316,712,000 after buying an additional 4,260,260 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Waste Management by 95.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock worth $281,274,000 after buying an additional 1,879,300 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Waste Management by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock worth $2,388,388,000 after buying an additional 1,790,546 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in Waste Management by 8,786.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock worth $12,314,000 after buying an additional 893,068 shares in the last quarter. 76.42% of the stock is currently owned by hedge funds and other institutional investors.
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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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