Analysts Anticipate Waste Management, Inc. (NYSE:WM) Will Post Quarterly Sales of $3.70 Billion

Equities research analysts predict that Waste Management, Inc. (NYSE:WM) will post sales of $3.70 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Waste Management’s earnings. The lowest sales estimate is $3.59 billion and the highest is $3.76 billion. Waste Management posted sales of $3.97 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6.8%. The firm is expected to report its next quarterly earnings report on Wednesday, October 28th.

On average, analysts expect that Waste Management will report full year sales of $14.75 billion for the current fiscal year, with estimates ranging from $14.30 billion to $15.24 billion. For the next year, analysts forecast that the business will report sales of $15.64 billion, with estimates ranging from $15.00 billion to $16.59 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Waste Management.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 30th. The business services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.50 billion.

A number of research firms have recently weighed in on WM. BMO Capital Markets increased their price target on Waste Management from $111.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird initiated coverage on shares of Waste Management in a research report on Thursday, May 28th. They issued an “outperform” rating and a $115.00 price objective for the company. Argus lowered their price objective on shares of Waste Management from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 target price on shares of Waste Management in a report on Thursday, July 9th. Finally, Raymond James increased their target price on Waste Management from $110.00 to $114.00 and gave the stock an “outperform” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Waste Management currently has an average rating of “Buy” and an average target price of $116.50.

Shares of WM traded up $0.22 on Monday, hitting $109.60. The company’s stock had a trading volume of 1,468,028 shares, compared to its average volume of 1,606,113. The company has a 50 day moving average price of $105.14 and a 200 day moving average price of $107.39. Waste Management has a fifty-two week low of $85.34 and a fifty-two week high of $126.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 1.80. The company has a market capitalization of $46.25 billion, a PE ratio of 28.99, a PEG ratio of 5.05 and a beta of 0.74.

In related news, Director John C. Pope sold 315 shares of the firm’s stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $106.87, for a total value of $33,664.05. Following the completion of the sale, the director now directly owns 54,269 shares in the company, valued at approximately $5,799,728.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

Hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC grew its stake in Waste Management by 1.1% in the second quarter. SeaCrest Wealth Management LLC now owns 8,798 shares of the business services provider’s stock valued at $932,000 after purchasing an additional 94 shares in the last quarter. Bay Harbor Wealth Management LLC grew its stake in Waste Management by 27.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 465 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 99 shares in the last quarter. First Command Financial Services Inc. grew its stake in Waste Management by 5.2% in the first quarter. First Command Financial Services Inc. now owns 2,037 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Waste Management by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the business services provider’s stock valued at $1,769,000 after purchasing an additional 100 shares in the last quarter. Finally, Selective Wealth Management Inc. boosted its stake in shares of Waste Management by 20.2% during the 2nd quarter. Selective Wealth Management Inc. now owns 595 shares of the business services provider’s stock worth $63,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.45% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Earnings History and Estimates for Waste Management (NYSE:WM)

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