$3.72 Billion in Sales Expected for Waste Management, Inc. (WM) This Quarter
Wall Street analysts forecast that Waste Management, Inc. (NYSE:WM) will post sales of $3.72 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Waste Management’s earnings. The highest sales estimate is $3.74 billion and the lowest is $3.67 billion. Waste Management posted sales of $3.55 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Waste Management will report full-year sales of $3.72 billion for the current year, with estimates ranging from $14.05 billion to $14.52 billion. For the next year, analysts expect that the company will post sales of $14.87 billion per share, with estimates ranging from $14.56 billion to $15.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Waste Management.
Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. Waste Management’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Stifel Nicolaus increased their price objective on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. increased their price objective on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. BMO Capital Markets assumed coverage on Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective for the company. Finally, Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $75.51.
Waste Management (NYSE WM) traded up 0.41% during trading on Friday, reaching $75.12. The company’s stock had a trading volume of 269,418 shares. The firm has a 50-day moving average price of $74.45 and a 200-day moving average price of $72.82. The firm has a market capitalization of $33.06 billion, a P/E ratio of 25.73 and a beta of 0.71. Waste Management has a 52 week low of $61.08 and a 52 week high of $76.00.
In other news, Director Patrick W. Gross sold 487 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the sale, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Pope sold 453 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Insiders sold 7,940 shares of company stock valued at $575,603 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. bought a new position in Waste Management during the second quarter worth $101,000. Northwest Investment Counselors LLC bought a new position in Waste Management during the second quarter worth $103,000. Quadrant Capital Group LLC increased its position in Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock worth $100,000 after buying an additional 78 shares during the period. Bruderman Asset Management LLC bought a new position in Waste Management during the second quarter worth $110,000. Finally, Guardian Life Insurance Co. of America increased its position in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the period. Institutional investors own 75.59% of the company’s stock.
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Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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