Equities research analysts expect Waste Management, Inc. (NYSE:WM) to announce sales of $4.51 billion for the current quarter, Zacks reports. Six analysts have provided estimates for Waste Management’s earnings, with the lowest sales estimate coming in at $4.41 billion and the highest estimate coming in at $4.60 billion. Waste Management reported sales of $3.86 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.8%. The firm is scheduled to announce its next earnings results on Monday, November 1st.
According to Zacks, analysts expect that Waste Management will report full year sales of $17.64 billion for the current fiscal year, with estimates ranging from $17.59 billion to $17.77 billion. For the next financial year, analysts anticipate that the business will report sales of $18.37 billion, with estimates ranging from $17.87 billion to $18.77 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Waste Management.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.09. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Waste Management had a return on equity of 26.32% and a net margin of 9.69%. Waste Management’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share.
A number of brokerages have commented on WM. Morgan Stanley upped their price target on Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 13th. Royal Bank of Canada upped their price target on Waste Management from $122.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 28th. They noted that the move was a valuation call. The Goldman Sachs Group began coverage on Waste Management in a research report on Wednesday, April 7th. They issued a “buy” rating and a $145.00 price target for the company. Raymond James restated an “outperform” rating and issued a $146.70 price target (down previously from $147.00) on shares of Waste Management in a research report on Monday, July 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Waste Management from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $135.06.
In other Waste Management news, EVP Charles C. Boettcher sold 28,097 shares of the company’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $148.61, for a total transaction of $4,175,495.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 131,625 shares of the company’s stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $140.50, for a total value of $18,493,312.50. Following the sale, the chief executive officer now owns 284,012 shares in the company, valued at $39,903,686. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,313 shares of company stock valued at $23,613,039. 0.16% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of WM. Nordea Investment Management AB raised its position in Waste Management by 100.8% during the first quarter. Nordea Investment Management AB now owns 5,929,710 shares of the business services provider’s stock valued at $765,347,000 after purchasing an additional 2,976,714 shares during the period. Ninety One UK Ltd raised its holdings in shares of Waste Management by 90.0% in the first quarter. Ninety One UK Ltd now owns 1,731,324 shares of the business services provider’s stock worth $223,375,000 after buying an additional 820,200 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Waste Management by 10.7% in the first quarter. Lazard Asset Management LLC now owns 6,682,819 shares of the business services provider’s stock worth $862,214,000 after buying an additional 647,203 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Waste Management by 13.7% in the first quarter. Ameriprise Financial Inc. now owns 4,860,236 shares of the business services provider’s stock worth $627,678,000 after buying an additional 584,632 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Waste Management by 83.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,237,400 shares of the business services provider’s stock worth $159,649,000 after buying an additional 564,338 shares during the period. Institutional investors and hedge funds own 74.15% of the company’s stock.
Shares of WM opened at $148.86 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.84 and a current ratio of 0.88. The stock has a 50-day moving average of $142.33. The stock has a market capitalization of $62.68 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. Waste Management has a 52 week low of $106.11 and a 52 week high of $150.83.
The company also recently declared a quarterly dividend, which was paid on Friday, June 18th. Investors of record on Friday, June 4th were paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, June 3rd. Waste Management’s payout ratio is presently 57.07%.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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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