Waste Management Inc. (NYSE:WM) – Wedbush raised their Q1 2017 earnings per share (EPS) estimates for shares of Waste Management in a research report issued to clients and investors on Thursday. Wedbush analyst A. Kaschalk now anticipates that the firm will earn $0.68 per share for the quarter, up from their prior forecast of $0.66. Wedbush has a “Neutral” rating and a $68.00 price objective on the stock. Wedbush also issued estimates for Waste Management’s Q3 2017 earnings at $0.86 EPS, Q4 2017 earnings at $0.83 EPS, Q2 2018 earnings at $0.84 EPS and FY2018 earnings at $3.41 EPS.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Barclays PLC downgraded shares of Waste Management from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $66.00 to $70.00 in a report on Tuesday, August 9th. Imperial Capital raised their price target on shares of Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a report on Friday, July 29th. Argus restated a “buy” rating and set a $72.00 price target on shares of Waste Management in a report on Wednesday, August 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $75.00 price target (up previously from $70.00) on shares of Waste Management in a report on Monday, July 18th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $66.77.
Shares of Waste Management (NYSE:WM) opened at 62.64 on Monday. The firm’s 50-day moving average price is $63.27 and its 200-day moving average price is $62.87. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 24.48 and a beta of 0.62. Waste Management has a 12-month low of $50.36 and a 12-month high of $70.50.
Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company earned $3.43 billion during the quarter, compared to analyst estimates of $3.40 billion. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. Waste Management’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a $0.41 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.64 dividend on an annualized basis and a yield of 2.62%. Waste Management’s dividend payout ratio (DPR) is presently 63.81%.
In other Waste Management news, VP Don P. Carpenter sold 1,634 shares of Waste Management stock in a transaction on Friday, July 29th. The shares were sold at an average price of $66.13, for a total value of $108,056.42. Following the transaction, the vice president now directly owns 19,865 shares in the company, valued at $1,313,672.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark E. Schwartz sold 70,496 shares of Waste Management stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $65.89, for a total transaction of $4,644,981.44. Following the completion of the transaction, the vice president now owns 67,117 shares in the company, valued at $4,422,339.13. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ngam Advisors L.P. raised its position in Waste Management by 14.8% in the first quarter. Ngam Advisors L.P. now owns 27,245 shares of the company’s stock worth $1,608,000 after buying an additional 3,521 shares in the last quarter. Aviva PLC raised its position in shares of Waste Management by 0.8% in the first quarter. Aviva PLC now owns 230,341 shares of the company’s stock worth $13,590,000 after buying an additional 1,844 shares during the period. AMF Pensionsforsakring AB raised its position in shares of Waste Management by 13.8% in the first quarter. AMF Pensionsforsakring AB now owns 86,741 shares of the company’s stock worth $5,118,000 after buying an additional 10,500 shares during the period. BB&T Securities LLC raised its position in shares of Waste Management by 2,586.2% in the first quarter. BB&T Securities LLC now owns 353,716 shares of the company’s stock worth $20,869,000 after buying an additional 340,548 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Waste Management during the first quarter worth about $2,001,000. Institutional investors own 75.10% of the company’s stock.
About Waste Management
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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