Raymond James Reaffirms Buy Rating for Waste Management (WM)

Raymond James reaffirmed their buy rating on shares of Waste Management (NYSE:WM) in a research report sent to investors on Monday.

A number of other research analysts have also commented on WM. UBS Group set a $90.00 price target on Waste Management and gave the company a hold rating in a report on Friday, October 26th. BMO Capital Markets reissued a buy rating and set a $93.00 price target on shares of Waste Management in a report on Thursday, July 26th. Oppenheimer reissued a buy rating and set a $95.00 price target on shares of Waste Management in a report on Thursday, October 25th. Zacks Investment Research raised Waste Management from a hold rating to a buy rating and set a $101.00 price target on the stock in a report on Friday, October 19th. Finally, ValuEngine raised Waste Management from a hold rating to a buy rating in a report on Saturday, July 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $95.50.

Shares of NYSE WM opened at $88.09 on Monday. Waste Management has a 1-year low of $78.33 and a 1-year high of $92.85. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.81 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Sell-side analysts anticipate that Waste Management will post 4.13 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Windward Capital Management Co. CA boosted its stake in Waste Management by 2.3% during the third quarter. Windward Capital Management Co. CA now owns 25,359 shares of the business services provider’s stock valued at $2,291,000 after buying an additional 563 shares in the last quarter. Exeter Financial LLC boosted its stake in Waste Management by 3.5% during the second quarter. Exeter Financial LLC now owns 16,994 shares of the business services provider’s stock valued at $1,382,000 after buying an additional 569 shares in the last quarter. Hall Laurie J Trustee boosted its stake in Waste Management by 3.0% during the third quarter. Hall Laurie J Trustee now owns 20,055 shares of the business services provider’s stock valued at $1,812,000 after buying an additional 575 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Waste Management by 0.7% during the third quarter. State of Alaska Department of Revenue now owns 78,651 shares of the business services provider’s stock valued at $7,105,000 after buying an additional 583 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd boosted its stake in Waste Management by 1.7% during the second quarter. Redpoint Investment Management Pty Ltd now owns 35,687 shares of the business services provider’s stock valued at $2,903,000 after buying an additional 591 shares in the last quarter. 74.87% of the stock is owned by institutional investors and hedge funds.

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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