Waste Management, Inc. (WM) Expected to Post Quarterly Sales of $3.56 Billion

Analysts expect Waste Management, Inc. (NYSE:WM) to post $3.56 billion in sales for the current fiscal quarter, Zacks Investment Research 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 posted sales of $3.46 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, February 15th.

According to Zacks, analysts expect that Waste Management will report full-year sales of $3.56 billion for the current year, with estimates ranging from $14.35 billion to $14.47 billion. For the next fiscal 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 averages are an average based on a survey of research firms that cover Waste Management.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm earned $0.84 earnings per share. Waste Management’s quarterly revenue was up 4.7% on a year-over-year basis.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, December 26th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $95.00 in a research report on Monday, December 11th. KeyCorp lifted their target price on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Bank of America cut their target price 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.78.

In other news, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total value of $34,172.10. Following the sale, the director now directly owns 30,673 shares in the company, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in Waste Management by 1.4% in the 3rd quarter. Wells Fargo & Company MN now owns 7,277,527 shares of the business services provider’s stock valued at $569,612,000 after buying an additional 103,234 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Waste Management by 8.5% in the 3rd quarter. Janus Henderson Group PLC now owns 4,684,275 shares of the business services provider’s stock valued at $366,641,000 after buying an additional 366,450 shares in the last quarter. Voya Investment Management LLC lifted its stake in Waste Management by 0.8% in the 2nd quarter. Voya Investment Management LLC now owns 2,789,574 shares of the business services provider’s stock valued at $204,615,000 after buying an additional 23,505 shares in the last quarter. Swiss National Bank lifted its stake in Waste Management by 1.2% in the 3rd quarter. Swiss National Bank now owns 2,438,703 shares of the business services provider’s stock valued at $190,877,000 after buying an additional 28,700 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Waste Management by 49.2% in the 3rd quarter. APG Asset Management N.V. now owns 2,417,131 shares of the business services provider’s stock valued at $189,189,000 after buying an additional 797,192 shares in the last quarter. 74.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Waste Management (WM) opened at $88.06 on Monday. Waste Management has a 52 week low of $69.00 and a 52 week high of $88.73. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $38,240.00, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75.

Waste Management announced that its Board of Directors has authorized a share buyback plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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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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Earnings History and Estimates for Waste Management (NYSE:WM)

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