Waste Management, Inc. (NYSE:WM – Free Report) – Research analysts at Zacks Research raised their FY2023 earnings per share (EPS) estimates for shares of Waste Management in a note issued to investors on Thursday, August 24th. Zacks Research analyst S. Bose now expects that the business services provider will earn $5.87 per share for the year, up from their previous forecast of $5.85. The consensus estimate for Waste Management’s current full-year earnings is $5.96 per share. Zacks Research also issued estimates for Waste Management’s Q4 2023 earnings at $1.48 EPS.
Several other equities analysts have also recently commented on WM. StockNews.com started coverage on Waste Management in a report on Thursday, August 17th. They issued a “buy” rating for the company. BMO Capital Markets cut their price target on Waste Management from $167.00 to $166.00 in a report on Thursday, July 27th. Raymond James cut their price target on Waste Management from $185.00 to $179.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Finally, Citigroup cut their price target on Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $179.18.
Waste Management Trading Up 0.7 %
Waste Management stock opened at $158.33 on Monday. The business has a 50 day moving average price of $165.19 and a two-hundred day moving average price of $161.78. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.14. The stock has a market cap of $64.13 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 2.68 and a beta of 0.71. Waste Management has a 12 month low of $148.31 and a 12 month high of $175.23.
Waste Management (NYSE:WM – Get Free Report) last announced its earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.03). Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the company earned $1.44 EPS. Waste Management’s revenue for the quarter was up 1.8% compared to the same quarter last year.
Waste Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. Waste Management’s dividend payout ratio is 50.36%.
Insider Activity at Waste Management
In related news, Director John C. Pope sold 198 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $168.40, for a total transaction of $33,343.20. Following the completion of the sale, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John C. Pope sold 198 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $168.40, for a total transaction of $33,343.20. Following the completion of the sale, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce E. Chinn sold 172 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total value of $27,423.68. Following the completion of the transaction, the director now owns 822 shares in the company, valued at $131,059.68. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Brown Shipley& Co Ltd boosted its position in Waste Management by 10.1% in the 2nd quarter. Brown Shipley& Co Ltd now owns 17,653 shares of the business services provider’s stock valued at $3,061,000 after buying an additional 1,620 shares during the last quarter. Strategy Asset Managers LLC boosted its position in shares of Waste Management by 19.8% in the 2nd quarter. Strategy Asset Managers LLC now owns 22,535 shares of the business services provider’s stock worth $3,908,000 after purchasing an additional 3,731 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Waste Management in the 2nd quarter worth $47,690,000. Comerica Bank bought a new position in shares of Waste Management in the 2nd quarter worth $9,923,000. Finally, Asset Dedication LLC boosted its position in shares of Waste Management by 20.1% in the 2nd quarter. Asset Dedication LLC now owns 933 shares of the business services provider’s stock worth $162,000 after purchasing an additional 156 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors.
About Waste Management
Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.
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