Waste Management, Inc. (NYSE:WM) Expected to Post Earnings of $0.82 Per Share

Analysts expect that Waste Management, Inc. (NYSE:WM) will announce earnings per share (EPS) of $0.99 for the current quarter, Zacks reports. Six analysts have provided estimates for Waste Management’s earnings, with the highest EPS estimate coming in at $1.06 and the lowest estimate coming in at $0.94. Waste Management reported earnings per share of $1.19 in the same quarter last year, which would indicate a negative year over year growth rate of 16.8%. The company is expected to announce its next quarterly earnings report on Wednesday, October 28th.

On average, analysts expect that Waste Management will report full-year earnings of $3.81 per share for the current financial year, with EPS estimates ranging from $3.63 to $4.13. For the next fiscal year, analysts forecast that the firm will report earnings of $4.25 per share, with EPS estimates ranging from $4.08 to $4.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Waste Management.

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

WM has been the topic of a number of research analyst reports. UBS Group cut their target price on Waste Management from $131.00 to $118.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Argus dropped their target price on Waste Management from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $115.00 target price on shares of Waste Management in a research report on Thursday, July 9th. Oppenheimer reaffirmed a “buy” rating and issued a $117.00 price target on shares of Waste Management in a report on Thursday. Finally, Deutsche Bank decreased their price target on shares of Waste Management from $132.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $116.50.

In related news, Director Frank M. Clark sold 315 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $106.95, for a total value of $33,689.25. Following the transaction, the director now owns 32,586 shares of the company’s stock, valued at $3,485,072.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its holdings in shares of Waste Management by 12.3% during the fourth quarter. Macquarie Group Ltd. now owns 8,342,672 shares of the business services provider’s stock worth $950,730,000 after purchasing an additional 915,772 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Waste Management by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,878,304 shares of the business services provider’s stock worth $668,456,000 after purchasing an additional 147,772 shares during the period. Norges Bank purchased a new stake in shares of Waste Management during the fourth quarter worth about $539,770,000. Capital Research Global Investors boosted its holdings in shares of Waste Management by 8.9% during the first quarter. Capital Research Global Investors now owns 4,403,171 shares of the business services provider’s stock worth $407,558,000 after purchasing an additional 358,063 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Waste Management by 13.1% during the first quarter. Pictet Asset Management Ltd. now owns 4,184,643 shares of the business services provider’s stock worth $387,330,000 after purchasing an additional 485,860 shares during the period. 73.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE WM traded up $0.22 during midday trading on Friday, reaching $109.60. The company’s stock had a trading volume of 1,468,028 shares, compared to its average volume of 1,606,113. Waste Management has a 12-month low of $85.34 and a 12-month high of $126.79. The firm has a 50 day moving average price of $105.14 and a 200-day moving average price of $107.39. The stock has a market capitalization of $46.25 billion, a P/E ratio of 28.99, a PEG ratio of 5.05 and a beta of 0.74. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 1.80.

About Waste Management

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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