Equities research analysts predict that Waste Management, Inc. (NYSE:WM) will report $3.56 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Waste Management’s earnings. The lowest sales estimate is $3.51 billion and the highest is $3.64 billion. Waste Management reported sales of $3.46 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The company is expected to issue its next quarterly earnings report on Thursday, February 15th.
According to Zacks, 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 financial year, analysts expect that the firm will report sales of $14.80 billion per share, with estimates ranging from $14.62 billion to $15.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Waste Management.
Waste Management (NYSE:WM) last released its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bruderman Asset Management LLC acquired a new position in Waste Management in the second quarter valued at about $110,000. FTB Advisors Inc. lifted its position 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 buying an additional 65 shares during the last quarter. First Interstate Bank lifted its position in Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after buying an additional 38 shares during the last quarter. Hudock Capital Group LLC lifted its position in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock valued at $151,000 after buying an additional 12 shares during the last quarter. Finally, Atlantic Trust LLC lifted its position in Waste Management by 7.6% in the second quarter. Atlantic Trust LLC now owns 3,820 shares of the business services provider’s stock valued at $172,000 after buying an additional 270 shares during the last quarter. 74.83% of the stock is currently owned by institutional investors.
Shares of Waste Management (WM) opened at $85.65 on Wednesday. Waste Management has a 1-year low of $69.00 and a 1-year high of $86.82. The stock has a market cap of $37,303.52, a price-to-earnings ratio of 27.53, a PEG ratio of 2.79 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60.
Waste Management announced that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Thursday, November 30th. Waste Management’s dividend payout ratio is currently 54.84%.
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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