Waste Management Inc. (WM) Given Consensus Rating of “Hold” by Brokerages
Shares of Waste Management Inc. (NYSE:WM) have received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $68.23.
A number of research firms have weighed in on WM. Vetr cut Waste Management from a “buy” rating to a “hold” rating and set a $68.25 price target for the company. in a report on Wednesday, November 9th. Barclays PLC raised Waste Management from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $63.37 to $70.00 in a research report on Monday, November 7th. Goldman Sachs Group Inc. assumed coverage on Waste Management in a research report on Tuesday, November 1st. They issued a “sell” rating and a $63.00 target price on the stock. Bank of America Corp. raised Waste Management from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, October 31st. Finally, Wedbush lowered Waste Management from an “outperform” rating to a “neutral” rating and cut their target price for the company from $73.00 to $68.00 in a research report on Thursday, October 13th. They noted that the move was a valuation call.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alexandria Capital LLC increased its position in shares of Waste Management by 2.7% in the second quarter. Alexandria Capital LLC now owns 1,583 shares of the company’s stock worth $105,000 after buying an additional 41 shares during the last quarter. Hudock Capital Group LLC boosted its position in Waste Management by 0.6% in the third quarter. Hudock Capital Group LLC now owns 1,726 shares of the company’s stock valued at $110,000 after buying an additional 11 shares during the last quarter. TLP Group LLC acquired a new position in Waste Management during the third quarter valued at about $125,000. Cribstone Capital Management LLC acquired a new position in Waste Management during the second quarter valued at about $132,000. Finally, Financial Architects Inc boosted its position 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 last quarter. Hedge funds and other institutional investors own 75.80% of the company’s stock.
Waste Management (NYSE:WM) opened at 67.72 on Thursday. Waste Management has a 52-week low of $50.36 and a 52-week high of $70.50. The stock has a market capitalization of $29.93 billion, a price-to-earnings ratio of 27.17 and a beta of 0.72. The company has a 50-day moving average of $63.50 and a 200-day moving average of $63.69.
Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. The firm earned $3.55 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Waste Management had a return on equity of 24.07% and a net margin of 8.36%. Waste Management’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Equities research analysts expect that Waste Management will post $2.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.64 dividend on an annualized basis and a yield of 2.42%. Waste Management’s payout ratio is currently 65.34%.
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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