Waste Management, Inc. (WM) Given a $90.00 Price Target at Credit Suisse Group
Credit Suisse Group set a $90.00 price target on Waste Management, Inc. (NYSE:WM) in a research report report published on Monday. The firm currently has a buy rating on the business services provider’s stock.
Several other equities research analysts have also issued reports on WM. Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the company a buy rating in a research note on Tuesday, July 18th. BMO Capital Markets raised their price objective on Waste Management from $82.00 to $86.00 and gave the company an outperform rating in a research note on Friday, October 27th. KeyCorp reaffirmed a buy rating and issued a $88.00 price objective on shares of Waste Management in a research note on Friday, October 27th. Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the company an outperform rating in a research note on Wednesday, July 5th. Finally, Bank of America Corporation lowered their price objective on Waste Management from $85.00 to $83.00 and set a buy rating for the company in a research note on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $81.81.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Nova Scotia raised its holdings in shares of Waste Management by 23.4% in the first quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock worth $30,005,000 after buying an additional 78,100 shares during the period. Intersect Capital LLC increased its holdings in Waste Management by 33.1% during the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 6,009 shares during the period. Aviva PLC increased its holdings in Waste Management by 1.0% during the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after purchasing an additional 2,710 shares during the period. AXA increased its holdings in Waste Management by 15.0% during the 2nd quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after purchasing an additional 58,630 shares during the period. Finally, Global X Management Co. LLC increased its holdings in Waste Management by 28.6% during the 1st quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock worth $367,000 after purchasing an additional 1,121 shares during the period. Hedge funds and other institutional investors own 75.29% of the company’s stock.
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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