Wall Street analysts forecast that Waste Management, Inc. (NYSE:WM) will report earnings per share of $0.82 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Waste Management’s earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.78. Waste Management reported earnings per share of $0.66 in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.2%. The business is scheduled to report its next earnings report on Wednesday, April 25th.
On average, analysts expect that Waste Management will report full-year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $4.00 to $4.06. For the next fiscal year, analysts expect that the company will report earnings of $4.41 per share, with EPS estimates ranging from $4.38 to $4.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Waste Management.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.02. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis.
In other news, VP John J. Morris sold 18,254 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $84.83, for a total value of $1,548,486.82. Following the transaction, the vice president now owns 56,338 shares of the company’s stock, valued at $4,779,152.54. The transaction was disclosed in a filing 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 shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the completion of the transaction, 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. In the last three months, insiders sold 106,291 shares of company stock worth $9,154,833. Corporate insiders own 0.19% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WM. Victory Capital Management Inc. increased its holdings in shares of Waste Management by 23.5% in the third quarter. Victory Capital Management Inc. now owns 60,228 shares of the business services provider’s stock valued at $4,714,000 after purchasing an additional 11,472 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Waste Management by 2.7% during the third quarter. Candriam Luxembourg S.C.A. now owns 57,862 shares of the business services provider’s stock worth $4,529,000 after acquiring an additional 1,504 shares during the period. HL Financial Services LLC grew its holdings in Waste Management by 20.8% during the third quarter. HL Financial Services LLC now owns 3,584 shares of the business services provider’s stock worth $280,000 after acquiring an additional 618 shares during the period. Sei Investments Co. grew its holdings in Waste Management by 11.0% during the third quarter. Sei Investments Co. now owns 354,139 shares of the business services provider’s stock worth $27,718,000 after acquiring an additional 35,037 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Waste Management during the third quarter worth $9,986,000. 76.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management (NYSE:WM) traded down $0.54 during midday trading on Monday, reaching $86.67. The company’s stock had a trading volume of 1,885,701 shares, compared to its average volume of 2,458,446. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. Waste Management has a one year low of $70.08 and a one year high of $89.73. The stock has a market capitalization of $37,590.00, a PE ratio of 14.99, a P/E/G ratio of 1.97 and a beta of 0.70.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s payout ratio is presently 32.18%.
Waste Management declared that its board has initiated a share buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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