Waste Management, Inc. (NYSE:WM) – Equities researchers at Gabelli issued their FY2022 earnings per share estimates for shares of Waste Management in a research report issued on Tuesday. Gabelli analyst T. Bancroft forecasts that the business services provider will earn $5.35 per share for the year.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, December 26th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a research report on Monday, December 11th. Credit Suisse Group set a $90.00 price objective on Waste Management and gave the company a “buy” rating in a research report on Monday, October 30th. KeyCorp reiterated a “buy” rating and set a $88.00 price objective on shares of Waste Management in a research report on Friday, October 27th. Finally, Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.90.
Shares of Waste Management (NYSE:WM) traded down $0.78 during trading hours on Wednesday, hitting $84.09. The stock had a trading volume of 2,037,896 shares, compared to its average volume of 2,380,981. Waste Management has a one year low of $70.08 and a one year high of $89.73. The firm has a market cap of $36,990.00, a P/E ratio of 14.78, a PEG ratio of 1.93 and a beta of 0.70. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77.
Several large investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB increased its position in Waste Management by 7.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 59,814 shares of the business services provider’s stock worth $5,162,000 after buying an additional 4,342 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Waste Management by 2.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 247,060 shares of the business services provider’s stock worth $21,321,000 after buying an additional 5,244 shares during the last quarter. Stony Point Wealth Management Inc. acquired a new position in Waste Management during the fourth quarter worth $531,000. Sawtooth Solutions LLC acquired a new position in Waste Management during the fourth quarter worth $233,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Waste Management by 45.1% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 25,728 shares of the business services provider’s stock worth $2,220,000 after buying an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.
In related news, CFO Devina A. Rankin sold 856 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.11, for a total transaction of $71,998.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Gross sold 387 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,708,425.90. The disclosure for this sale can be found here. Insiders sold 6,892 shares of company stock valued at $576,258 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio is presently 29.41%.
Waste Management declared that its board has approved a stock buyback program on Thursday, December 14th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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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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