Waste Management, Inc. (NYSE:WM) has been given a $90.00 target price by Credit Suisse Group in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the business services provider’s stock. Credit Suisse Group’s target price indicates a potential upside of 9.34% from the company’s previous close.
Several other analysts have also recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and set a $82.00 price objective on shares of Waste Management in a research report on Friday, September 8th. Stifel Nicolaus raised their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research cut shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. KeyCorp raised their price objective on shares of Waste Management from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Finally, Oppenheimer Holdings Inc. raised their price objective on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. One equities research analyst has 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 currently has a consensus rating of “Hold” and an average target price of $80.10.
Shares of Waste Management (WM) traded down 0.322% on Monday, reaching $82.045. 373,588 shares of the company’s stock traded hands. The company’s 50-day moving average price is $77.91 and its 200 day moving average price is $74.94. Waste Management has a one year low of $63.19 and a one year high of $82.87. The firm has a market cap of $36.10 billion, a P/E ratio of 28.098 and a beta of 0.74.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Waste Management will post $3.19 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. purchased a new position in shares of Waste Management in the second quarter valued at about $101,000. Northwest Investment Counselors LLC purchased a new position in shares of Waste Management in the second quarter valued at about $103,000. Bruderman Asset Management LLC purchased a new position in shares of Waste Management in the second quarter valued at about $110,000. Guardian Life Insurance Co. of America increased its position in shares of Waste Management by 0.9% in 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 acquiring an additional 14 shares during the period. Finally, FTB Advisors Inc. increased its position in shares of Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 75.29% of the company’s stock.
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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