Wall Street brokerages predict that Waste Management, Inc. (NYSE:WM) will report $3.94 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Waste Management’s earnings, with the highest sales estimate coming in at $3.95 billion and the lowest estimate coming in at $3.92 billion. Waste Management reported sales of $3.74 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, July 25th.
On average, analysts expect that Waste Management will report full year sales of $15.63 billion for the current financial year, with estimates ranging from $15.53 billion to $15.69 billion. For the next year, analysts anticipate that the business will post sales of $16.24 billion, with estimates ranging from $16.09 billion to $16.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Waste Management.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share.
A number of brokerages have commented on WM. KeyCorp cut shares of Luxfer from an “overweight” rating to a “sector weight” rating and set a $24.30 price target for the company. in a research note on Monday, June 3rd. Stifel Nicolaus began coverage on shares of AAR in a research note on Monday, July 8th. They set a “buy” rating and a $50.00 price target for the company. Argus raised their price target on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada set a €67.00 ($77.91) price target on shares of Daimler and gave the stock a “buy” rating in a research note on Monday, June 3rd. Finally, UBS Group restated a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $111.67.
In other news, EVP John J. Morris sold 42,795 shares of Waste Management stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $106.38, for a total value of $4,552,532.10. Following the completion of the transaction, the executive vice president now owns 101,332 shares in the company, valued at $10,779,698.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James C. Fish, Jr. sold 84,314 shares of Waste Management stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the transaction, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,809 shares of company stock valued at $14,449,141. Corporate insiders own 0.14% of the company’s stock.
Several large investors have recently bought and sold shares of WM. Norges Bank bought a new position in Waste Management in the 4th quarter worth approximately $402,210,000. Nordea Investment Management AB raised its position in Waste Management by 22.9% in the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after purchasing an additional 547,291 shares during the last quarter. FMR LLC raised its position in Waste Management by 136.9% in the 4th quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock worth $72,745,000 after purchasing an additional 472,388 shares during the last quarter. California Public Employees Retirement System raised its position in Waste Management by 14.9% in the 1st quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock worth $300,717,000 after purchasing an additional 374,826 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after purchasing an additional 326,408 shares during the last quarter. Institutional investors own 73.55% of the company’s stock.
Shares of NYSE:WM traded up $0.66 during midday trading on Friday, hitting $117.91. The company’s stock had a trading volume of 1,323,645 shares, compared to its average volume of 1,602,395. The firm has a market capitalization of $49.80 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.18 and a beta of 0.62. The stock’s 50 day moving average is $113.87. Waste Management has a fifty-two week low of $81.01 and a fifty-two week high of $118.11. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, June 6th. Waste Management’s dividend payout ratio is 48.81%.
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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