Waste Management (NYSE:WM) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Waste Management (NYSE:WM) issued its quarterly earnings data on Monday. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07, Briefing.com reports. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Waste Management updated its FY 2024 guidance to EPS.

Waste Management Stock Performance

Shares of NYSE WM traded up $9.53 during mid-day trading on Tuesday, reaching $217.79. 746,037 shares of the company’s stock were exchanged, compared to its average volume of 1,609,594. The firm has a market capitalization of $87.40 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Waste Management has a 52 week low of $161.60 and a 52 week high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The firm has a 50-day moving average price of $208.81 and a two-hundred day moving average price of $208.58.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 47.69%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WM. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Oppenheimer reduced their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Company Profile

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.