Waste Management’s (WM) Buy Rating Reiterated at KeyCorp

KeyCorp reissued their buy rating on shares of Waste Management, Inc. (NYSE:WM) in a research note published on Friday morning. KeyCorp currently has a $88.00 price objective on the business services provider’s stock. KeyCorp also issued estimates for Waste Management’s FY2019 earnings at $3.65 EPS.

WM has been the topic of a number of other research reports. Stifel Nicolaus downgraded Waste Management from a buy rating to a hold rating and dropped their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, October 4th. BMO Capital Markets reaffirmed a buy rating and set a $82.00 price objective on shares of Waste Management in a research report on Friday, September 8th. Bank of America Corporation dropped their price objective on Waste Management from $85.00 to $83.00 and set a buy rating on the stock in a research report on Thursday, October 5th. Zacks Investment Research downgraded Waste Management from a hold rating to a sell rating in a research report on Thursday, October 5th. Finally, Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the company an outperform rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $79.65.

Waste Management (NYSE:WM) opened at 82.31 on Friday. Waste Management has a 12 month low of $63.19 and a 12 month high of $82.69. The stock has a market cap of $36.22 billion, a price-to-earnings ratio of 28.19 and a beta of 0.74. The firm’s 50-day moving average price is $77.91 and its 200 day moving average price is $74.94.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Waste Management will post $3.19 earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in WM. Shine Investment Advisory Services Inc. purchased a new stake in Waste Management in the second quarter valued at about $101,000. Northwest Investment Counselors LLC purchased a new stake in Waste Management in the second quarter valued at about $103,000. Bruderman Asset Management LLC purchased a new stake in Waste Management in the second quarter valued at about $110,000. Guardian Life Insurance Co. of America raised its stake in 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 buying an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. raised its stake in 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 buying an additional 65 shares during the last quarter. Institutional investors own 75.07% 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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