Waste Management Given “Neutral” Rating at Zacks (WM)
Waste Management (NYSE: WM)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. They currently have a $42.00 price target on the stock.
Zacks‘ analyst wrote, “Waste Management reported modest first quarter 2013 results with adjusted earnings marginally missing the Zacks Consensus Estimate by $0.01. The company is continuing with its restructuring initiatives, which are likely to reap benefits in the long run. Waste Management is also taking adequate measures to improve its yield in the coming year and at the same time remains focused on controlling its costs The company continues to return significant cash to its shareholders through dividends. However, high market price volatility, commodity price headwinds, and huge integration costs related to acquisition could impair its long-term profitability to some extent. Nevertheless, we maintain our long-term Neutral recommendation for the stock.”
Several other analysts have also recently commented on the stock. Analysts at Wedbush raised their price target on shares of Waste Management from $34.00 to $36.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at S&P Equity Research raised their price target on shares of Waste Management from $40.00 to $43.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Wunderlich upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They now have a $43.00 price target on the stock, up previously from $35.00.
Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Waste Management currently has an average rating of “Hold” and an average target price of $52.14.
Shares of Waste Management (NYSE: WM) traded up 0.67% during mid-day trading on Monday, hitting $40.458. Waste Management has a one year low of $30.82 and a one year high of $40.98. The stock’s 50-day moving average is currently $38.44. The company has a market cap of $18.895 billion and a P/E ratio of 22.97.
Waste Management (NYSE: WM) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.01. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts predict that Waste Management will post $2.17 earnings per share for the current fiscal year.
Waste Management, Inc. (NYSE: WM) is a provider of integrated waste services in North America.
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