Brokers Set Expectations for Waste Management, Inc.’s Q3 2017 Earnings (WM)
Waste Management, Inc. (NYSE:WM) – Research analysts at First Analysis issued their Q3 2017 earnings estimates for Waste Management in a report released on Monday. First Analysis analyst C. Greendale anticipates that the business services provider will post earnings of $0.89 per share for the quarter.
Several other brokerages also recently commented on WM. Zacks Investment Research downgraded Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of Waste Management in a research note on Friday, October 13th. Bank of America Corporation dropped their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Finally, Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Waste Management presently has an average rating of “Hold” and an average target price of $78.74.
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Waste Management (NYSE:WM) opened at 76.94 on Wednesday. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 26.35 and a beta of 0.74. Waste Management has a 52-week low of $61.59 and a 52-week high of $79.28. The company’s 50-day moving average price is $77.49 and its 200 day moving average price is $74.65.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. Waste Management’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WM. Morgan Dempsey Capital Management LLC raised its stake in shares of Waste Management by 18.5% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 75,220 shares of the business services provider’s stock valued at $5,483,000 after purchasing an additional 11,740 shares during the period. Baird Financial Group Inc. raised its stake in shares of Waste Management by 1.0% in the 1st quarter. Baird Financial Group Inc. now owns 173,414 shares of the business services provider’s stock valued at $12,645,000 after purchasing an additional 1,757 shares during the period. Penserra Capital Management LLC raised its stake in shares of Waste Management by 14.6% in the 1st quarter. Penserra Capital Management LLC now owns 17,167 shares of the business services provider’s stock valued at $1,251,000 after purchasing an additional 2,190 shares during the period. Independent Advisor Alliance raised its stake in shares of Waste Management by 11.4% in the 1st quarter. Independent Advisor Alliance now owns 7,856 shares of the business services provider’s stock valued at $576,000 after purchasing an additional 807 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA raised its stake in shares of Waste Management by 3.5% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 15,660 shares of the business services provider’s stock valued at $1,142,000 after purchasing an additional 536 shares during the period. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s dividend payout ratio is 58.42%.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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