Waste Management (WM) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Waste Management (NYSE:WM) released its earnings results on Friday. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.09, RTT News reports. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Waste Management updated its FY18 guidance to $3.97-4.05 EPS.

Shares of NYSE:WM traded down $0.14 during trading on Friday, hitting $82.48. The company had a trading volume of 3,184,102 shares, compared to its average volume of 2,215,950. The firm has a market capitalization of $35,769.43, a price-to-earnings ratio of 25.61, a PEG ratio of 1.87 and a beta of 0.70. Waste Management has a one year low of $70.08 and a one year high of $89.73. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 2.26%. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, March 8th. Waste Management’s dividend payout ratio (DPR) is presently 57.76%.

A number of brokerages recently commented on WM. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Tuesday, December 26th. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Raymond James raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Friday, February 16th. UBS raised Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target on shares of Waste Management in a research note on Thursday, January 4th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $90.89.

In other news, SVP Barry H. Caldwell sold 1,840 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $84.10, for a total value of $154,744.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeff M. Harris sold 60,088 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $86.67, for a total value of $5,207,826.96. Following the completion of the sale, the vice president now directly owns 80,203 shares of the company’s stock, valued at $6,951,194.01. The disclosure for this sale can be found here. Insiders sold a total of 106,211 shares of company stock valued at $9,146,683 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Large investors have recently bought and sold shares of the company. Atlantic Trust Group LLC increased its holdings in Waste Management by 53.9% during the 3rd quarter. Atlantic Trust Group LLC now owns 39,720 shares of the business services provider’s stock worth $3,109,000 after purchasing an additional 13,918 shares during the period. DnB Asset Management AS increased its holdings in shares of Waste Management by 5.9% in the 4th quarter. DnB Asset Management AS now owns 52,194 shares of the business services provider’s stock valued at $4,504,000 after acquiring an additional 2,900 shares during the period. Franklin Street Advisors Inc. NC increased its holdings in shares of Waste Management by 1.4% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 97,607 shares of the business services provider’s stock valued at $8,424,000 after acquiring an additional 1,379 shares during the period. Windward Capital Management Co. CA increased its holdings in shares of Waste Management by 81.9% in the 4th quarter. Windward Capital Management Co. CA now owns 22,012 shares of the business services provider’s stock valued at $1,900,000 after acquiring an additional 9,912 shares during the period. Finally, First American Trust FSB increased its holdings in shares of Waste Management by 12.7% in the 4th quarter. First American Trust FSB now owns 39,623 shares of the business services provider’s stock valued at $3,420,000 after acquiring an additional 4,466 shares during the period. 76.72% of the stock is owned by institutional investors and hedge funds.

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Waste Management Company Profile

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.

Earnings History for Waste Management (NYSE:WM)

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