Analysts expect that Waste Management, Inc. (NYSE:WM) will post sales of $3.94 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Waste Management’s earnings, with estimates ranging from $3.92 billion to $3.95 billion. Waste Management reported sales of $3.74 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that Waste Management will report full-year sales of $15.62 billion for the current year, with estimates ranging from $15.53 billion to $15.67 billion. For the next fiscal year, analysts forecast that the company will post sales of $16.24 billion, with estimates ranging from $16.09 billion to $16.41 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Waste Management.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.68 billion. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share.
WM has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Waste Management from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada upgraded shares of Waste Management from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $113.00 to $125.00 in a research report on Monday, June 3rd. Oppenheimer upped their price target on shares of Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $106.00 in a research report on Thursday, April 4th. Finally, KeyCorp upped their price target on shares of Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $111.11.
Shares of Waste Management stock opened at $114.16 on Thursday. The stock has a market capitalization of $48.29 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.11 and a beta of 0.62. Waste Management has a fifty-two week low of $79.96 and a fifty-two week high of $115.42. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.69 and a quick ratio of 0.66.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.5125 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.05 annualized dividend and a dividend yield of 1.80%. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
In other Waste Management news, EVP John J. Morris sold 42,795 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $106.38, for a total value of $4,552,532.10. Following the completion of the sale, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 700 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total transaction of $73,185.00. Following the completion of the sale, the vice president now owns 9,518 shares of the company’s stock, valued at approximately $995,106.90. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in Waste Management by 85.0% during the 4th quarter. Advisors Asset Management Inc. now owns 26,163 shares of the business services provider’s stock valued at $2,328,000 after purchasing an additional 12,022 shares during the last quarter. Buckingham Capital Management Inc. raised its position in Waste Management by 13.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 23,641 shares of the business services provider’s stock valued at $2,104,000 after purchasing an additional 2,805 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in Waste Management during the 4th quarter valued at approximately $113,000. CIBC Private Wealth Group LLC raised its position in Waste Management by 6.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 40,644 shares of the business services provider’s stock valued at $3,617,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Waste Management by 15.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,559 shares of the business services provider’s stock valued at $2,363,000 after purchasing an additional 3,541 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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