Wall Street brokerages forecast that Waste Management, Inc. (NYSE:WM) will report $3.57 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Waste Management’s earnings, with the lowest sales estimate coming in at $3.56 billion and the highest estimate coming in at $3.58 billion. Waste Management reported sales of $3.44 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is expected to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Waste Management will report full year sales of $3.57 billion for the current fiscal year, with estimates ranging from $15.07 billion to $15.14 billion. For the next year, analysts forecast that the firm will post sales of $15.66 billion per share, with estimates ranging from $15.55 billion to $15.73 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Waste Management.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. Waste Management’s revenue was up 5.5% compared to the same quarter last year.
WM has been the subject of several recent analyst reports. Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a research report on Monday, October 30th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $95.00 in a research report on Monday, December 11th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Tuesday, December 26th. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, UBS Group raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $88.22.
Shares of Waste Management (WM) opened at $85.49 on Friday. Waste Management has a 52-week low of $70.08 and a 52-week high of $89.73. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. The firm has a market cap of $37,120.00, a PE ratio of 14.79, a P/E/G ratio of 1.91 and a beta of 0.70.
The business 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 is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio is 29.41%.
Waste Management declared that its board has approved a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, VP John J. Morris sold 18,254 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $84.83, for a total value of $1,548,486.82. Following the completion of the transaction, the vice president now owns 56,338 shares of the company’s stock, valued at $4,779,152.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick W. Gross sold 387 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the completion of the transaction, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. Insiders sold 25,146 shares of company stock valued at $2,124,745 in the last three months. Company insiders own 0.19% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WM. Benjamin F. Edwards & Company Inc. increased its stake in shares of Waste Management by 79.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,045 shares of the business services provider’s stock valued at $238,000 after buying an additional 1,351 shares during the period. Aperio Group LLC increased its position in Waste Management by 3.0% during the 3rd quarter. Aperio Group LLC now owns 337,543 shares of the business services provider’s stock valued at $26,419,000 after purchasing an additional 9,897 shares during the period. Westchester Capital Management Inc. increased its position in Waste Management by 0.7% during the 3rd quarter. Westchester Capital Management Inc. now owns 105,709 shares of the business services provider’s stock valued at $8,274,000 after purchasing an additional 728 shares during the period. Fort Pitt Capital Group LLC acquired a new stake in Waste Management during the 3rd quarter valued at approximately $224,000. Finally, Pictet Asset Management Ltd. increased its position in Waste Management by 52.2% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock valued at $152,073,000 after purchasing an additional 666,000 shares during the period. 75.70% of the stock is owned by institutional investors.
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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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