Citigroup Has Lowered Expectations for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its price target dropped by research analysts at Citigroup from $270.00 to $263.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Citigroup’s price objective points to a potential upside of 18.98% from the company’s current price.

A number of other equities research analysts have also commented on WM. Cowen reissued a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Scotiabank lowered their target price on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Truist Financial set a $260.00 target price on Waste Management in a research note on Wednesday, October 29th. Finally, National Bankshares reduced their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $250.45.

Waste Management Stock Up 0.5%

Shares of Waste Management stock traded up $1.19 during trading hours on Friday, reaching $221.05. The company’s stock had a trading volume of 852,619 shares, compared to its average volume of 1,770,669. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The stock’s fifty day simple moving average is $215.35 and its two-hundred day simple moving average is $219.31. The company has a market capitalization of $89.06 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.45 and a beta of 0.59. Waste Management has a one year low of $194.11 and a one year high of $242.58.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 EPS. On average, research analysts forecast that Waste Management will post 7.7 earnings per share for the current year.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares in the company, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cornerstone Planning Group LLC increased its stake in shares of Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after buying an additional 67 shares during the period. JPL Wealth Management LLC bought a new position in shares of Waste Management during the third quarter valued at about $30,000. Loomis Sayles & Co. L P purchased a new stake in shares of Waste Management during the second quarter worth about $40,000. Holos Integrated Wealth LLC bought a new stake in shares of Waste Management in the fourth quarter worth about $40,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Waste Management during the 3rd quarter valued at about $41,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.