Waste Management (WM) Issues FY18 Earnings Guidance

Waste Management (NYSE:WM) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $3.97-4.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.68.

Shares of Waste Management (NYSE:WM) opened at $85.98 on Thursday. Waste Management has a 1 year low of $69.55 and a 1 year high of $89.73. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71. The stock has a market cap of $35,080.32, a price-to-earnings ratio of 26.65, a PEG ratio of 2.27 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. sell-side analysts forecast that Waste Management will post 3.2 earnings per share for the current year.

Waste Management declared that its Board of Directors has authorized a stock repurchase program 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 programs are generally a sign that the company’s board believes its stock is undervalued.

WM has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Waste Management from a hold rating to a buy rating and set a $96.00 target price for the company in a report on Tuesday, December 26th. Stifel Nicolaus raised shares of Waste Management from a hold rating to a buy rating and upped their target price for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Credit Suisse Group set a $90.00 target price on shares of Waste Management and gave the stock a buy rating in a report on Monday, October 30th. KeyCorp reaffirmed a buy rating and issued a $88.00 target price on shares of Waste Management in a report on Friday, October 27th. Finally, Macquarie raised shares of Waste Management from a neutral rating to an outperform rating in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Waste Management has a consensus rating of Buy and a consensus target price of $86.00.

In other Waste Management news, Director Patrick W. Gross sold 387 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the transaction, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total transaction of $133,815.00. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was published by American Banking News and is owned by of American Banking News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/15/waste-management-wm-issues-fy18-earnings-guidance.html.

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.

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

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply