Waste Management, Inc. (NYSE:WM) – Stock analysts at Oppenheimer reduced their Q3 2019 earnings per share (EPS) estimates for Waste Management in a report issued on Thursday, July 18th. Oppenheimer analyst N. Kaye now expects that the business services provider will earn $1.15 per share for the quarter, down from their previous forecast of $1.16. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Waste Management’s Q4 2019 earnings at $1.13 EPS.
Several other research firms have also commented on WM. CIBC reiterated a “hold” rating and issued a $2.50 target price on shares of Advantage Oil & Gas in a research note on Thursday. KeyCorp lowered Luxfer from an “overweight” rating to a “sector weight” rating and set a $24.30 target price for the company. in a research note on Monday, June 3rd. Argus upped their target price on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. UBS Group reiterated a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. Finally, Stifel Nicolaus began coverage on AAR in a research note on Monday, July 8th. They set a “buy” rating and a $50.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $111.67.
Shares of NYSE:WM opened at $116.79 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.69 and a quick ratio of 0.66. Waste Management has a 52-week low of $81.01 and a 52-week high of $118.89. The firm has a fifty day moving average of $115.21. The stock has a market capitalization of $50.11 billion, a P/E ratio of 27.81, a P/E/G ratio of 3.20 and a beta of 0.62.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the business earned $0.91 earnings per share. Waste Management’s quarterly revenue was up 5.3% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, June 6th. Waste Management’s dividend payout ratio is currently 48.81%.
In related news, Director Patrick W. Gross sold 289 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the completion of the transaction, the director now owns 53,378 shares of the company’s stock, valued at $6,331,164.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the executive vice president now directly owns 101,332 shares of the company’s stock, valued at approximately $10,779,698.16. The disclosure for this sale can be found here. Insiders sold 128,098 shares of company stock valued at $14,483,420 in the last three months. 0.14% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in WM. Norges Bank bought a new position in Waste Management during the 4th quarter worth approximately $402,210,000. Nordea Investment Management AB lifted its holdings in Waste Management by 22.9% during the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after buying an additional 547,291 shares during the last quarter. FMR LLC lifted its holdings in Waste Management by 136.9% during the 4th quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock worth $72,745,000 after buying an additional 472,388 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Waste Management by 14.9% during the 1st quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock worth $300,717,000 after buying an additional 374,826 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Waste Management by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after purchasing an additional 326,408 shares during the period. 73.61% of the stock is currently owned by institutional investors.
About Waste Management
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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