Waste Management (NYSE:WM) Posts Quarterly Earnings Results

Waste Management (NYSE:WM) posted its quarterly earnings results on Tuesday. The business services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04, Zacks reports. Waste Management had a return on equity of 31.74% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis.

Waste Management Price Performance

WM traded down $7.83 during trading on Thursday, reaching $228.77. The stock had a trading volume of 298,253 shares, compared to its average volume of 2,160,230. The business has a 50-day moving average of $225.18 and a 200-day moving average of $227.56. Waste Management has a one year low of $194.11 and a one year high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market cap of $91.87 billion, a PE ratio of 32.41, a PEG ratio of 2.91 and a beta of 0.44.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management’s payout ratio is 54.70%.

Hedge Funds Weigh In On Waste Management

A number of large investors have recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new position in Waste Management during the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in shares of Waste Management during the 3rd quarter valued at $30,000. Meeder Asset Management Inc. lifted its stake in Waste Management by 227.1% in the fourth quarter. Meeder Asset Management Inc. now owns 157 shares of the business services provider’s stock worth $34,000 after purchasing an additional 109 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Waste Management during the fourth quarter valued at about $35,000. Finally, Quattro Advisors LLC purchased a new position in shares of Waste Management in the fourth quarter worth about $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Oppenheimer reduced their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Scotiabank boosted their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Royal Bank Of Canada upped their price target on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.61.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.