Waste Management, Inc. (NYSE:WM) – Research analysts at Oppenheimer lowered their Q1 2018 earnings per share estimates for shares of Waste Management in a note issued to investors on Friday, Zacks Investment Research reports. Oppenheimer analyst N. Kaye now expects that the business services provider will earn $0.78 per share for the quarter, down from their previous estimate of $0.80. Oppenheimer also issued estimates for Waste Management’s Q3 2018 earnings at $1.15 EPS, Q4 2018 earnings at $1.05 EPS and FY2019 earnings at $4.38 EPS.
Other research analysts have also issued reports about the company. UBS Group began coverage on Waste Management in a report on Wednesday. They issued a “neutral” rating for the company. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Saturday, February 10th. Raymond James Financial upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a report on Friday, February 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price on shares of Waste Management in a report on Thursday, January 4th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Waste Management currently has a consensus rating of “Buy” and an average target price of $90.13.
Waste Management (WM) traded down $0.25 on Monday, hitting $86.41. The stock had a trading volume of 2,236,653 shares, compared to its average volume of 2,950,000. Waste Management has a 1-year low of $70.08 and a 1-year high of $89.73. The stock has a market capitalization of $37,470.00, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.96 and a beta of 0.70. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80.
Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis.
Waste Management announced that its board has approved a share buyback program on Thursday, December 14th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.15%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 8th. Waste Management’s payout ratio is 32.18%.
In other Waste Management news, SVP Barry H. Caldwell sold 1,840 shares of Waste Management stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $84.10, for a total transaction of $154,744.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff M. Harris sold 8,820 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $87.80, for a total value of $774,396.00. Following the sale, the vice president now directly owns 80,203 shares of the company’s stock, valued at $7,041,823.40. The disclosure for this sale can be found here. Insiders have sold a total of 106,291 shares of company stock valued at $9,154,833 over the last ninety days. 0.19% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System increased its position in shares of Waste Management by 6.2% during the third quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock worth $114,756,000 after purchasing an additional 85,636 shares in the last quarter. Yellowstone Partners LLC acquired a new stake in shares of Waste Management during the third quarter worth about $449,000. Lourd Capital LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $256,000. Wesbanco Bank Inc. acquired a new stake in shares of Waste Management during the fourth quarter worth about $215,000. Finally, Personal Capital Advisors Corp increased its position in shares of Waste Management by 24.0% during the third quarter. Personal Capital Advisors Corp now owns 163,337 shares of the business services provider’s stock worth $12,784,000 after purchasing an additional 31,585 shares in the last quarter. Institutional investors and hedge funds own 76.76% 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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