Waste Management (NYSE:WM) Price Target Lowered to $223.00 at Royal Bank Of Canada

Waste Management (NYSE:WM) had its price objective decreased by Royal Bank Of Canada from $234.00 to $223.00 in a research note released on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the business services provider’s stock.

Other analysts have also recently issued reports about the company. Citigroup reduced their price target on Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. JPMorgan Chase & Co. reduced their price objective on Waste Management from $277.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday. Truist Financial set a $260.00 price objective on Waste Management in a report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $248.95.

Waste Management Stock Down 3.3%

WM opened at $197.52 on Wednesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82. The business has a 50 day simple moving average of $218.54 and a 200-day simple moving average of $226.72. The stock has a market capitalization of $79.57 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.52 and a beta of 0.64. Waste Management has a 12 month low of $197.02 and a 12 month high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s payout ratio is currently 51.97%.

Institutional Investors Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Saudi Central Bank purchased a new stake in Waste Management during the first quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management during the first quarter valued at about $38,000. Loomis Sayles & Co. L P purchased a new stake in Waste Management during the second quarter valued at about $40,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Waste Management during the third quarter valued at about $41,000. Finally, Wealth Watch Advisors INC purchased a new stake in Waste Management during the second quarter valued at about $43,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.