Waste Management (NYSE:WM) Price Target Lowered to $231.00 at CIBC

Waste Management (NYSE:WM) had its target price lowered by CIBC from $235.00 to $231.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other analysts have also recently issued reports on WM. JPMorgan Chase & Co. cut their price objective on Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group cut their price objective on Waste Management from $265.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. National Bankshares cut their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Stifel Nicolaus lowered their target price on Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Cowen reaffirmed a “buy” rating on shares of Waste Management in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.95.

Waste Management Trading Down 3.3%

Shares of NYSE WM opened at $197.52 on Wednesday. The stock’s 50 day moving average price is $218.54 and its two-hundred day moving average price is $226.72. Waste Management has a 52-week low of $197.02 and a 52-week high of $242.58. The stock has a market capitalization of $79.57 billion, a P/E ratio of 31.11, a PEG ratio of 2.52 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the company earned $1.96 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio is 51.97%.

Hedge Funds Weigh In On Waste Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WM. Norges Bank bought a new position in Waste Management in the 2nd quarter worth approximately $1,064,206,000. Vontobel Holding Ltd. grew its holdings in Waste Management by 444.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after buying an additional 1,800,728 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Waste Management by 15,782.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares in the last quarter. Nuveen LLC bought a new position in Waste Management in the 1st quarter worth approximately $333,089,000. Finally, Ameriprise Financial Inc. grew its holdings in Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after buying an additional 1,239,996 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.