Equities analysts expect Waste Management, Inc. (NYSE:WM) to post $0.88 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Waste Management’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.90. Waste Management posted earnings of $0.84 per share during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The company is scheduled to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Waste Management will report full-year earnings of $3.19 per share for the current financial year, with EPS estimates ranging from $3.15 to $3.21. For the next financial year, analysts anticipate that the business will post earnings of $3.48 per share, with EPS estimates ranging from $3.43 to $3.60. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Waste Management.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis.
A number of analysts have commented on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Friday, April 28th. KeyCorp boosted their target price on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th. Credit Suisse Group boosted their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. boosted their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.24.
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Waste Management (NYSE WM) traded up 0.05% during mid-day trading on Wednesday, reaching $75.38. 521,925 shares of the company were exchanged. Waste Management has a 1-year low of $61.08 and a 1-year high of $76.00. The stock’s 50-day moving average price is $74.30 and its 200-day moving average price is $72.66. The stock has a market capitalization of $33.17 billion, a price-to-earnings ratio of 25.82 and a beta of 0.71.
In related news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the sale, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,940 shares of company stock worth $575,603. 0.19% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in WM. BlackRock Inc. increased its stake in shares of Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock valued at $2,199,436,000 after buying an additional 29,049,915 shares during the period. Renaissance Technologies LLC increased its stake in shares of Waste Management by 95.0% in the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock valued at $281,274,000 after buying an additional 1,879,300 shares during the period. Vanguard Group Inc. increased its stake in shares of Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after buying an additional 1,790,546 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of Waste Management by 8,786.6% in the second quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock valued at $12,314,000 after buying an additional 893,068 shares during the period. Finally, Janus Capital Management LLC increased its stake in shares of Waste Management by 34.1% in the first quarter. Janus Capital Management LLC now owns 3,449,747 shares of the business services provider’s stock valued at $251,556,000 after buying an additional 876,766 shares during the period. 75.59% of the stock is currently owned by institutional investors and hedge funds.
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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