Waste Management (WM) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Waste Management (NYSE:WM) posted its quarterly earnings results on Thursday. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02, Bloomberg Earnings reports. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Waste Management updated its FY18 guidance to $3.97-4.05 EPS.

Waste Management (WM) opened at $86.34 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. Waste Management has a 12 month low of $69.55 and a 12 month high of $89.73. The company has a market cap of $35,080.32, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.70.

A number of research firms recently weighed in on WM. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock 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 set 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and an average target price of $86.00.

Waste Management declared that its board has approved a share buyback program on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Waste Management news, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $34,172.10. Following the completion of the transaction, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. MHI Funds LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $184,000. Cerebellum GP LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $186,000. Gradient Investments LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $197,000. FTB Advisors Inc. boosted its stake in shares of Waste Management by 44.2% in the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 700 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in shares of Waste Management in the 4th quarter valued at $203,000. 75.33% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History for Waste Management (NYSE:WM)

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