Gabelli Analysts Raise Earnings Estimates for Waste Management, Inc. (WM)

Waste Management, Inc. (NYSE:WM) – Stock analysts at Gabelli increased their FY2018 earnings estimates for Waste Management in a research note issued on Tuesday. Gabelli analyst T. Bancroft now forecasts that the business services provider will earn $4.05 per share for the year, up from their previous estimate of $3.50. Gabelli also issued estimates for Waste Management’s FY2019 earnings at $4.40 EPS, FY2020 earnings at $4.70 EPS and FY2021 earnings at $5.05 EPS.

Waste Management (NYSE:WM) last issued its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS.

Other equities research analysts have also issued reports about the company. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. BMO Capital Markets boosted their price target on Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Saturday, February 10th. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research report on Friday, February 16th. Finally, Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $95.00 in a research report on Monday, December 11th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $88.22.

Shares of Waste Management (WM) traded up $0.52 during midday trading on Thursday, reaching $84.61. The company’s stock had a trading volume of 465,340 shares, compared to its average volume of 2,357,025. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. The company has a market cap of $36,510.00, a price-to-earnings ratio of 14.55, a PEG ratio of 1.92 and a beta of 0.70. Waste Management has a 1-year low of $70.08 and a 1-year high of $89.73.

Hedge funds have recently made changes to their positions in the stock. MHI Funds LLC purchased a new position in Waste Management during the 4th quarter worth $184,000. Cerebellum GP LLC purchased a new position in Waste Management during the 4th quarter worth $186,000. Gradient Investments LLC purchased a new position in Waste Management during the 4th quarter worth $197,000. FTB Advisors Inc. grew its stake in Waste Management by 44.2% during the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock worth $197,000 after buying an additional 700 shares during the last quarter. Finally, WealthPLAN Partners LLC purchased a new position in Waste Management during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

In other news, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Barry H. Caldwell sold 1,840 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.10, for a total value of $154,744.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,892 shares of company stock valued at $576,258. Corporate insiders own 0.19% of the company’s stock.

Waste Management declared that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 2.20%. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 8th. Waste Management’s payout ratio is presently 29.41%.

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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.

Earnings History and Estimates for Waste Management (NYSE:WM)

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