Brokerages Set Waste Management, Inc. (WM) Price Target at $76.01
Waste Management, Inc. (NYSE:WM) has been given a consensus rating of “Hold” by the eleven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $76.01.
Several brokerages have recently commented on WM. Bank of America Corporation decreased their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Zacks Investment Research cut Waste Management from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. BMO Capital Markets started coverage on Waste Management in a report on Thursday, June 29th. They set an “outperform” rating and a $81.00 target price on the stock. Credit Suisse Group raised their price target on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. raised their price target on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, July 5th.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Shine Investment Advisory Services Inc. acquired a new stake in shares of Waste Management during the second quarter worth about $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Waste Management during the second quarter worth about $103,000. Bruderman Asset Management LLC acquired a new stake in shares of Waste Management during the second quarter worth about $110,000. Guardian Life Insurance Co. of America raised its position in shares of Waste Management by 0.9% during 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 purchasing an additional 14 shares during the period. Finally, FTB Advisors Inc. raised its position in shares of Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.
Waste Management (NYSE WM) traded up 0.44% during midday trading on Friday, reaching $77.08. 2,322,984 shares of the company traded hands. The company has a market cap of $33.92 billion, a price-to-earnings ratio of 26.40 and a beta of 0.74. The company has a 50-day moving average price of $77.35 and a 200-day moving average price of $74.47. Waste Management has a 12-month low of $61.08 and a 12-month high of $79.28.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, analysts predict that Waste Management will post $3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, September 7th. Waste Management’s dividend payout ratio is 58.42%.
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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