Brokerages Expect Waste Management, Inc. (WM) Will Post Earnings of $0.83 Per Share
Equities research analysts predict that Waste Management, Inc. (NYSE:WM) will announce $0.83 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Waste Management’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.84. Waste Management reported earnings of $0.75 per share in the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The business is expected to report its next earnings results on Thursday, February 15th.
On average, analysts expect that Waste Management will report full-year earnings of $3.20 per share for the current year, with EPS estimates ranging from $3.20 to $3.21. For the next fiscal year, analysts anticipate that the business will post earnings of $3.46 per share, with EPS estimates ranging from $3.37 to $3.55. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Waste Management.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year.
Several equities analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $95.00 in a research report on Monday, December 11th. KeyCorp reiterated a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a research report on Friday, October 27th. Bank of America cut their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Waste Management from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $83.31.
In other news, SVP Barry H. Caldwell sold 1,650 shares of Waste Management stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in Waste Management by 7,400.8% in the second quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock valued at $316,712,000 after acquiring an additional 4,260,260 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Waste Management by 5.0% in the second quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock valued at $2,521,397,000 after purchasing an additional 1,621,347 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Waste Management by 4.9% in the second quarter. BlackRock Inc. now owns 31,637,903 shares of the business services provider’s stock valued at $2,320,637,000 after purchasing an additional 1,475,583 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Waste Management by 49.2% in the third quarter. APG Asset Management N.V. now owns 2,417,131 shares of the business services provider’s stock valued at $189,189,000 after purchasing an additional 797,192 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Waste Management by 52.2% in the third quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock valued at $152,073,000 after purchasing an additional 666,000 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.
Shares of Waste Management (NYSE WM) traded up $1.21 on Monday, reaching $85.87. The company’s stock had a trading volume of 4,166,500 shares, compared to its average volume of 1,697,239. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60. Waste Management has a 52-week low of $69.00 and a 52-week high of $86.82. The company has a market cap of $37,303.50, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.75.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.425 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.70 annualized dividend and a dividend yield of 1.98%. Waste Management’s dividend payout ratio (DPR) is currently 54.84%.
Waste Management announced that its board has approved a stock buyback plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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About Waste Management
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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