Waste Management, Inc. (NYSE:WM) – Equities research analysts at First Analysis increased their FY2017 earnings per share (EPS) estimates for shares of Waste Management in a research note issued to investors on Monday. First Analysis analyst C. Greendale now anticipates that the business services provider will post earnings per share of $3.18 for the year, up from their prior forecast of $3.15. First Analysis also issued estimates for Waste Management’s Q4 2017 earnings at $0.82 EPS and FY2018 earnings at $3.42 EPS.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share.
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Several other brokerages have also issued reports on WM. Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $80.00 in a report on Wednesday, October 4th. BMO Capital Markets reiterated a “buy” rating and set a $82.00 price objective on shares of Waste Management in a report on Friday, September 8th. KeyCorp increased their price objective on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Bank of America Corporation cut their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Finally, Zacks Investment Research lowered Waste Management from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Waste Management presently has an average rating of “Hold” and a consensus target price of $78.74.
Shares of Waste Management (NYSE:WM) opened at 76.84 on Tuesday. The firm has a 50-day moving average of $77.49 and a 200 day moving average of $74.58. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 26.32 and a beta of 0.74. Waste Management has a 12 month low of $61.59 and a 12 month high of $79.28.
A number of institutional investors have recently bought and sold shares of WM. Shine Investment Advisory Services Inc. acquired a new position in Waste Management during the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new position in Waste Management during the second quarter worth $103,000. Bruderman Asset Management LLC acquired a new position in Waste Management during the second quarter worth $110,000. Guardian Life Insurance Co. of America increased its position in Waste Management by 0.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. increased its position in Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after buying an additional 65 shares during the last quarter. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s payout ratio is 58.42%.
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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