Wall Street brokerages expect that Waste Management, Inc. (NYSE:WM) will post $3.94 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Waste Management’s earnings. The highest sales estimate is $3.95 billion and the lowest is $3.92 billion. Waste Management posted sales of $3.74 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is expected to announce its next earnings results before the market opens on Thursday, July 25th.
On average, analysts expect that Waste Management will report full year sales of $15.63 billion for the current financial year, with estimates ranging from $15.53 billion to $15.69 billion. For the next year, analysts anticipate that the business will report sales of $16.83 billion, with estimates ranging from $16.09 billion to $18.60 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Waste Management.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis.
A number of equities analysts have recently commented on WM shares. Royal Bank of Canada set a €67.00 ($77.91) price target on Daimler and gave the stock a “buy” rating in a report on Monday, June 3rd. Oppenheimer assumed coverage on Pareteum in a research note on Friday, April 26th. They set an “outperform” rating and a $7.00 price objective for the company. Stifel Nicolaus assumed coverage on AAR in a research note on Monday. They set a “buy” rating and a $50.00 price objective for the company. Argus lifted their price objective on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, KeyCorp lowered Luxfer from an “overweight” rating to a “sector weight” rating and set a $24.30 price objective for the company. in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $111.67.
In related news, EVP John J. Morris sold 42,795 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the transaction, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 84,314 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the transaction, the chief executive officer now owns 282,921 shares in the company, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. Insiders have sold 127,809 shares of company stock valued at $14,449,141 in the last three months. 0.14% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Executive Wealth Management LLC bought a new stake in shares of Waste Management in the 4th quarter worth approximately $26,000. Washington Trust Bank bought a new stake in shares of Waste Management in the 1st quarter worth approximately $28,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Waste Management in the 1st quarter worth approximately $31,000. Hanson McClain Inc. boosted its position in shares of Waste Management by 51.0% in the 1st quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. Finally, PRW Wealth Management LLC bought a new stake in shares of Waste Management in the 4th quarter worth approximately $38,000. 73.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management stock traded down $0.39 during trading hours on Friday, reaching $117.40. The company had a trading volume of 49,080 shares, compared to its average volume of 1,744,097. Waste Management has a one year low of $81.01 and a one year high of $118.11. The business has a fifty day moving average price of $113.56. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.66 and a current ratio of 0.69. The company has a market cap of $50.03 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 3.16 and a beta of 0.62.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, June 6th. Waste Management’s dividend payout ratio is 48.81%.
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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