Waste Management (WM) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Waste Management (NYSE:WM) issued its quarterly earnings results on Friday. The business services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09, RTT News reports. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Waste Management updated its FY18 guidance to $3.97-4.05 EPS.

WM opened at $82.48 on Friday. The stock has a market cap of $35,769.43, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.70. Waste Management has a fifty-two week low of $70.08 and a fifty-two week high of $89.73. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were paid a dividend of $0.465 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.86 annualized dividend and a yield of 2.26%. Waste Management’s dividend payout ratio is 57.76%.

Several equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $90.00 price target on shares of Waste Management in a research report on Friday. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. UBS assumed coverage on shares of Waste Management in a research report on Wednesday, March 14th. They set a “neutral” rating and a $93.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target on shares of Waste Management in a research report on Thursday, January 4th. Finally, Raymond James raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Waste Management currently has a consensus rating of “Buy” and a consensus price target of $90.89.

In related news, CEO James C. Fish, Jr. sold 2,159 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $84.08, for a total transaction of $181,528.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jeff M. Harris sold 60,088 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $86.67, for a total transaction of $5,207,826.96. Following the sale, the vice president now owns 80,203 shares in the company, valued at approximately $6,951,194.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,211 shares of company stock worth $9,146,683. 0.30% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. MHI Funds LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $184,000. Cerebellum GP LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $186,000. Gradient Investments LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $197,000. FTB Advisors Inc. increased its stake in shares of Waste Management by 44.2% in the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 700 shares during the period. Finally, WealthPLAN Partners LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $201,000. Institutional investors own 76.72% of the company’s stock.

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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.

Earnings History for Waste Management (NYSE:WM)

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