Q1 2018 EPS Estimates for Waste Management Inc. Decreased by Wedbush (WM)
Waste Management Inc. (NYSE:WM) – Investment analysts at Wedbush reduced their Q1 2018 EPS estimates for shares of Waste Management in a research report issued to clients and investors on Thursday. Wedbush analyst A. Kaschalk now anticipates that the firm will post earnings per share of $0.74 for the quarter, down from their previous estimate of $0.75. Wedbush currently has a “Neutral” rating and a $68.00 price target on the stock. Wedbush also issued estimates for Waste Management’s Q3 2018 earnings at $0.94 EPS, FY2019 earnings at $3.61 EPS and FY2020 earnings at $3.77 EPS.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $0.67 EPS. Waste Management’s quarterly revenue was up 3.3% compared to the same quarter last year.
WM has been the subject of a number of other research reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, September 27th. Macquarie initiated coverage on Waste Management in a research report on Thursday, August 25th. They issued a “neutral” rating and a $69.00 price target for the company. Stifel Nicolaus raised Waste Management from a “market weight” rating to an “overweight” rating in a research report on Monday, June 27th. KeyCorp raised Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price target for the company in a research report on Tuesday, August 9th. Finally, Argus reaffirmed a “buy” rating and issued a $72.00 price target on shares of Waste Management in a research report on Wednesday, August 10th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.77.
Waste Management (NYSE:WM) traded up 0.29% on Friday, reaching $61.88. The company’s stock had a trading volume of 1,865,278 shares. The stock’s 50 day moving average is $63.41 and its 200-day moving average is $62.78. Waste Management has a 52 week low of $50.36 and a 52 week high of $70.50. The firm has a market capitalization of $27.37 billion, a PE ratio of 24.18 and a beta of 0.62.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ngam Advisors L.P. increased its position in Waste Management by 14.8% in the first quarter. Ngam Advisors L.P. now owns 27,245 shares of the company’s stock worth $1,608,000 after buying an additional 3,521 shares during the period. Aviva PLC increased its position in Waste Management by 0.8% in the first quarter. Aviva PLC now owns 230,341 shares of the company’s stock worth $13,590,000 after buying an additional 1,844 shares during the period. Smith Moore & CO. increased its position in Waste Management by 19.6% in the first quarter. Smith Moore & CO. now owns 6,854 shares of the company’s stock worth $404,000 after buying an additional 1,125 shares during the period. AMF Pensionsforsakring AB increased its position in Waste Management by 13.8% in the first quarter. AMF Pensionsforsakring AB now owns 86,741 shares of the company’s stock worth $5,118,000 after buying an additional 10,500 shares during the period. Finally, Credit Agricole S A increased its position in Waste Management by 67.0% in the first quarter. Credit Agricole S A now owns 1,054,544 shares of the company’s stock worth $62,218,000 after buying an additional 423,182 shares during the period. 75.12% of the stock is currently owned by institutional investors.
In other news, VP Don P. Carpenter sold 1,634 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $66.13, for a total value of $108,056.42. Following the transaction, the vice president now owns 19,865 shares of the company’s stock, valued at approximately $1,313,672.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank M. Clark sold 449 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $67.21, for a total value of $30,177.29. Following the completion of the transaction, the director now directly owns 29,084 shares in the company, valued at approximately $1,954,735.64. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
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 dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.66%. The ex-dividend date was Wednesday, September 7th. Waste Management’s dividend payout ratio is 63.81%.
About Waste Management
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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