Wall Street analysts expect that Waste Management, Inc. (NYSE:WM) will post sales of $3.77 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Waste Management’s earnings, with estimates ranging from $3.77 billion to $3.78 billion. Waste Management reported sales of $3.68 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is expected to report its next earnings results before the market opens on Wednesday, July 25th.
On average, analysts expect that Waste Management will report full-year sales of $14.91 billion for the current year, with estimates ranging from $14.84 billion to $14.96 billion. For the next financial year, analysts anticipate that the business will report sales of $15.48 billion per share, with estimates ranging from $15.33 billion to $15.71 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Waste Management.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Friday, April 20th. The business services provider reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.09. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a net margin of 14.06% and a return on equity of 26.73%. Waste Management’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share.
WM has been the topic of several research analyst reports. BMO Capital Markets decreased their price objective on shares of Waste Management from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 20th. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Finally, UBS Group initiated coverage on shares of Waste Management in a research report on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $90.89.
In other Waste Management news, SVP Nikolaj H. Sjoqvist sold 307 shares of the stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $84.76, for a total transaction of $26,021.32. Following the transaction, the senior vice president now directly owns 18,756 shares in the company, valued at $1,589,758.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Barry H. Caldwell sold 10,844 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $84.00, for a total transaction of $910,896.00. Following the transaction, the senior vice president now owns 31,447 shares in the company, valued at $2,641,548. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WM. Millennium Management LLC grew its position in Waste Management by 197.1% during the first quarter. Millennium Management LLC now owns 2,182,980 shares of the business services provider’s stock valued at $183,632,000 after acquiring an additional 1,448,281 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Waste Management by 60.1% in the first quarter. JPMorgan Chase & Co. now owns 2,488,298 shares of the business services provider’s stock worth $209,315,000 after purchasing an additional 934,344 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Waste Management by 133.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,474,839 shares of the business services provider’s stock worth $124,064,000 after purchasing an additional 842,995 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Waste Management by 37.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,856,726 shares of the business services provider’s stock worth $246,536,000 after purchasing an additional 778,626 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Waste Management by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,808,600 shares of the business services provider’s stock worth $328,682,000 after purchasing an additional 511,700 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.
Shares of Waste Management traded up $0.57, hitting $81.34, during trading on Monday, MarketBeat.com reports. The company had a trading volume of 2,420,743 shares, compared to its average volume of 2,170,539. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47. The stock has a market cap of $34.83 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70. Waste Management has a 52 week low of $73.18 and a 52 week high of $89.73.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 22nd. Shareholders of record on Friday, June 8th were given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Thursday, June 7th. Waste Management’s payout ratio is currently 57.76%.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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