KeyCorp Weighs in on Waste Management, Inc.’s Q3 2017 Earnings (WM)
Waste Management, Inc. (NYSE:WM) – Investment analysts at KeyCorp upped their Q3 2017 EPS estimates for Waste Management in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Box now anticipates that the business services provider will earn $0.90 per share for the quarter, up from their previous estimate of $0.89. KeyCorp has a “Overweight” rating and a $65.00 price objective on the stock. KeyCorp also issued estimates for Waste Management’s Q4 2017 earnings at $0.84 EPS, FY2017 earnings at $3.21 EPS, Q1 2018 earnings at $0.70 EPS, Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $0.90 EPS and FY2018 earnings at $3.45 EPS.
Several other brokerages also recently weighed in on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus upped 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. Oppenheimer Holdings, Inc. upped 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. Credit Suisse Group upped their target price on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets began coverage on shares of Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $74.94.
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Shares of Waste Management (WM) opened at 75.57 on Friday. Waste Management has a 52-week low of $61.08 and a 52-week high of $76.00. The stock has a market capitalization of $33.40 billion, a price-to-earnings ratio of 27.57 and a beta of 0.71. The stock has a 50 day moving average price of $73.94 and a 200-day moving average price of $72.45.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.03% and a net margin of 9.18%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in Waste Management during the second quarter worth approximately $103,000. Quadrant Capital Group LLC raised its position in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock worth $100,000 after buying an additional 78 shares during the period. Guardian Life Insurance Co. of America raised 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 worth $114,000 after buying an additional 14 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock worth $124,000 after buying an additional 340 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Waste Management during the first quarter worth about $127,000. 75.08% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Patrick W. Gross sold 487 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the transaction, the chief executive officer now directly owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,940 shares of company stock valued at $575,603. Corporate insiders own 0.19% of the company’s stock.
Waste Management Company Profile
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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