Wall Street brokerages predict that Waste Management (NYSE:WM) will post $3.57 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Waste Management’s earnings. The highest sales estimate is $3.58 billion and the lowest is $3.54 billion. Waste Management reported sales of $3.44 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The firm is expected to issue its next earnings results before the market opens on Friday, April 20th.
On average, analysts expect that Waste Management will report full year sales of $15.09 billion for the current financial year, with estimates ranging from $15.07 billion to $15.13 billion. For the next financial year, analysts expect that the company will post sales of $15.65 billion per share, with estimates ranging from $15.55 billion to $15.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Waste Management.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.
Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Monday, January 8th. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Friday, February 16th. UBS raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a research report on Friday, February 16th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target on shares of Waste Management in a research report on Thursday, January 4th. Finally, Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $90.44.
In other Waste Management news, SVP Nikolaj H. Sjoqvist sold 307 shares of the business’s stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $84.76, for a total value of $26,021.32. Following the completion of the transaction, the senior vice president now owns 18,756 shares of the company’s stock, valued at approximately $1,589,758.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John J. Morris sold 18,254 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $84.83, for a total transaction of $1,548,486.82. Following the completion of the transaction, the vice president now directly owns 56,338 shares of the company’s stock, valued at approximately $4,779,152.54. The disclosure for this sale can be found here. Insiders have sold a total of 106,598 shares of company stock worth $9,180,855 in the last ninety days. 0.30% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in WM. MHI Funds LLC purchased a new position in Waste Management in the 4th quarter worth approximately $184,000. Cerebellum GP LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $186,000. FTB Advisors Inc. boosted its stake in shares of Waste Management by 44.2% in the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 700 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $197,000. Finally, WealthPLAN Partners LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $201,000. 76.72% of the stock is owned by institutional investors and hedge funds.
NYSE WM opened at $83.38 on Tuesday. Waste Management has a 12-month low of $70.08 and a 12-month high of $89.73. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. The company has a market capitalization of $36,025.29, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.89 and a beta of 0.70.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, March 8th. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio is 57.76%.
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About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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