Equities Analysts Issue Forecasts for Waste Management, Inc.’s Q3 2019 Earnings (NYSE:WM)

Waste Management, Inc. (NYSE:WM) – Investment analysts at KeyCorp lowered their Q3 2019 earnings per share (EPS) estimates for Waste Management in a note issued to investors on Thursday, July 25th. KeyCorp analyst S. Eastman now expects that the business services provider will post earnings per share of $1.11 for the quarter, down from their prior estimate of $1.16. KeyCorp currently has a “Overweight” rating and a $120.00 target price on the stock. KeyCorp also issued estimates for Waste Management’s Q2 2020 earnings at $1.14 EPS, Q3 2020 earnings at $1.26 EPS and FY2021 earnings at $5.03 EPS.

A number of other research firms also recently issued reports on WM. CIBC restated a “hold” rating and issued a $2.50 price target on shares of Advantage Oil & Gas in a research report on Thursday, July 18th. Oppenheimer restated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Raymond James set a $240.00 price target on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $179.00 price target on shares of 3M and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, UBS Group restated a “hold” rating on shares of Deutsche Bank in a research report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $113.30.

NYSE WM opened at $118.01 on Monday. Waste Management has a 12 month low of $83.22 and a 12 month high of $118.89. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. The company has a market cap of $50.10 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 3.21 and a beta of 0.62. The company’s fifty day moving average is $116.35.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year.

In other Waste Management news, CEO James C. Fish, Jr. sold 84,314 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick W. Gross sold 289 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total transaction of $34,278.29. Following the transaction, the director now directly owns 53,378 shares in the company, valued at approximately $6,331,164.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,303 shares of company stock worth $9,930,887. 0.14% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in WM. Geode Capital Management LLC grew its stake in shares of 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. Northern Trust Corp grew its stake in shares of Waste Management by 1.4% in the 1st quarter. Northern Trust Corp now owns 5,096,397 shares of the business services provider’s stock worth $529,567,000 after purchasing an additional 72,356 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of 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. California Public Employees Retirement System grew its stake in shares of 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, Pictet Asset Management Ltd. grew its stake in shares of Waste Management by 1.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 2,822,806 shares of the business services provider’s stock worth $293,318,000 after purchasing an additional 30,453 shares during the last quarter. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Cash Flow Analysis in Stock Selection

Earnings History and Estimates for Waste Management (NYSE:WM)

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.