Waste Management, Inc. (NYSE:WM – Get Rating) – Oppenheimer raised their Q2 2022 EPS estimates for shares of Waste Management in a research report issued on Wednesday, April 27th. Oppenheimer analyst N. Kaye now forecasts that the business services provider will post earnings of $1.31 per share for the quarter, up from their previous estimate of $1.29. Oppenheimer also issued estimates for Waste Management’s Q3 2022 earnings at $1.48 EPS, Q4 2022 earnings at $1.32 EPS, FY2022 earnings at $5.40 EPS and FY2023 earnings at $5.75 EPS.
A number of other research firms have also weighed in on WM. lowered shares of Waste Management to a “hold” rating in a research report on Wednesday, February 9th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Raymond James lifted their target price on shares of Waste Management from $167.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Waste Management from $157.00 to $167.00 in a research note on Thursday. Finally, BMO Capital Markets downgraded shares of Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 target price on the stock. in a research note on Tuesday, April 12th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $161.00.
WM opened at $164.44 on Thursday. The firm has a market capitalization of $68.27 billion, a PE ratio of 38.24, a PEG ratio of 2.72 and a beta of 0.87. Waste Management has a twelve month low of $136.79 and a twelve month high of $170.18. The firm’s 50-day moving average price is $156.20 and its 200 day moving average price is $157.27. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. Waste Management (NYSE:WM – Get Rating) last announced its earnings results on Tuesday, April 26th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.15. Waste Management had a net margin of 10.13% and a return on equity of 28.14%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the business earned $1.06 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 17th were paid a dividend of $0.65 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.58. This represents a $2.60 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, March 16th. Waste Management’s dividend payout ratio is presently 60.47%.
In other Waste Management news, SVP Tara J. Hemmer sold 10,910 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $142.15, for a total transaction of $1,550,856.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Leslie K. Nagy sold 2,668 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $169.72, for a total transaction of $452,812.96. Following the transaction, the chief accounting officer now owns 4,880 shares of the company’s stock, valued at approximately $828,233.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,013 shares of company stock worth $16,222,631. 0.18% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. MFA Wealth Advisors LLC boosted its position in shares of Waste Management by 12,882.2% in the third quarter. MFA Wealth Advisors LLC now owns 4,752,779 shares of the business services provider’s stock worth $5,114,000 after acquiring an additional 4,716,169 shares during the last quarter. Norges Bank purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $687,551,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Waste Management by 7,498.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,005,882 shares of the business services provider’s stock valued at $334,782,000 after purchasing an additional 1,979,482 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Waste Management in the fourth quarter worth $84,113,000. Finally, Capital World Investors increased its stake in shares of Waste Management by 30.7% in the third quarter. Capital World Investors now owns 2,134,772 shares of the business services provider’s stock worth $318,850,000 after buying an additional 501,705 shares during the last quarter. 74.38% of the stock is currently owned by hedge funds and other institutional investors.
About Waste Management (Get Rating)
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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