Waste Management, Inc. (NYSE:WM) – Gabelli upped their FY2018 earnings per share (EPS) estimates for shares of Waste Management in a research report issued on Friday. Gabelli analyst T. Bancroft now anticipates that the business services provider will post earnings per share of $3.50 for the year, up from their previous forecast of $3.45. Gabelli also issued estimates for Waste Management’s FY2019 earnings at $3.80 EPS, FY2020 earnings at $4.05 EPS and FY2021 earnings at $4.40 EPS.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share.
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Several other analysts have also recently weighed in on WM. Credit Suisse Group reaffirmed an “outperform” rating and set a $90.00 price objective (up from $85.00) on shares of Waste Management in a research note on Monday. BMO Capital Markets upped their price objective on shares of Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer Holdings, Inc. upped their price objective on shares of Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday. KeyCorp reaffirmed a “buy” rating and set a $88.00 price objective on shares of Waste Management in a research note on Friday. Finally, Zacks Investment Research raised shares of Waste Management from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Waste Management presently has an average rating of “Hold” and a consensus target price of $80.10.
Waste Management (NYSE:WM) opened at 82.31 on Monday. Waste Management has a 12 month low of $63.19 and a 12 month high of $82.69. The firm has a market capitalization of $36.22 billion, a P/E ratio of 28.19 and a beta of 0.74. The stock’s 50 day moving average price is $77.91 and its 200 day moving average price is $74.94.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Waste Management during the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the second quarter valued at approximately $103,000. Bruderman Asset Management LLC bought a new stake in shares of Waste Management during the second quarter valued at approximately $110,000. Guardian Life Insurance Co. of America grew its stake in shares of Waste Management by 0.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. grew its stake in shares of Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 65 shares during the last quarter. 75.29% 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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