Waste Management (NYSE:WM) posted its earnings results on Thursday. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02, Bloomberg Earnings reports. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Waste Management updated its FY18 guidance to $3.97-4.05 EPS.
Waste Management (NYSE WM) opened at $85.15 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $36,437.28, a PE ratio of 19.31, a PEG ratio of 2.18 and a beta of 0.70. Waste Management has a 52-week low of $69.55 and a 52-week high of $89.73.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patrick W. Gross sold 387 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total value of $34,172.10. Following the sale, the director now owns 30,673 shares in the company, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MHI Funds LLC bought a new stake in Waste Management during the fourth quarter worth about $184,000. Cerebellum GP LLC bought a new stake in Waste Management in the fourth quarter valued at approximately $186,000. Gradient Investments LLC bought a new stake in Waste Management in the fourth quarter valued at approximately $197,000. FTB Advisors Inc. raised its stake in Waste Management by 44.2% in the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after buying an additional 700 shares during the period. Finally, WealthPLAN Partners LLC bought a new stake in Waste Management in the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 75.33% of the company’s stock.
Waste Management declared that its board has authorized a stock repurchase program on Thursday, December 14th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have issued reports on WM shares. KeyCorp reissued a “buy” rating and issued a $88.00 target price on shares of Waste Management in a research note on Friday, October 27th. Zacks Investment Research raised Waste Management from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. BMO Capital Markets boosted their target price on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Oppenheimer upped their price objective on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Credit Suisse Group set a $90.00 price objective on Waste Management and gave the stock a “buy” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $86.00.
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About Waste Management
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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