Analysts Set Waste Management Inc. (NYSE:WM) PT at $67.13
Waste Management Inc. (NYSE:WM) has been given an average rating of “Buy” by the fourteen ratings firms that are currently covering the company. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $67.13.
Several research firms have commented on WM. KeyCorp restated a “hold” rating on shares of Waste Management in a research note on Thursday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price objective (up previously from $70.00) on shares of Waste Management in a research note on Monday, July 18th. Imperial Capital upped their price objective on Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a research note on Friday, July 29th. Wedbush reiterated an “outperform” rating and set a $73.00 price objective on shares of Waste Management in a research note on Thursday, July 28th. Finally, Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.
Shares of Waste Management (NYSE:WM) opened at 62.28 on Thursday. The firm has a market cap of $27.55 billion, a P/E ratio of 24.34 and a beta of 0.62. The stock has a 50 day moving average of $63.73 and a 200 day moving average of $62.71. Waste Management has a 52 week low of $50.36 and a 52 week high of $70.50.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. Equities analysts forecast that Waste Management will post $2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Wednesday, September 7th. Waste Management’s dividend payout ratio is 63.81%.
In other news, Director Thomas H. Weidemeyer sold 449 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $67.58, for a total transaction of $30,343.42. Following the sale, the director now directly owns 24,383 shares of the company’s stock, valued at approximately $1,647,803.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James C. Fish, Jr. sold 7,400 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $66.59, for a total value of $492,766.00. Following the sale, the chief financial officer now directly owns 99,615 shares in the company, valued at $6,633,362.85. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Alexandria Capital LLC raised its stake in Waste Management by 2.7% in the second quarter. Alexandria Capital LLC now owns 1,583 shares of the company’s stock valued at $105,000 after buying an additional 41 shares during the period. Hudock Capital Group LLC raised its stake in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 1,715 shares of the company’s stock valued at $113,000 after buying an additional 11 shares during the period. Cribstone Capital Management LLC bought a new stake in Waste Management during the second quarter valued at about $132,000. Financial Architects Inc raised its stake in Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock valued at $132,000 after buying an additional 16 shares during the period. Finally, Chicago Partners Investment Group LLC raised its stake in Waste Management by 320.0% in the second quarter. Chicago Partners Investment Group LLC now owns 2,100 shares of the company’s stock valued at $139,000 after buying an additional 1,600 shares during the period. 75.21% of the stock is currently owned by institutional investors.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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