Scotiabank Forecasts Lower Earnings for Waste Management

Waste Management, Inc. (NYSE:WM) – Stock analysts at Scotiabank cut their FY2027 EPS estimates for shares of Waste Management in a research note issued to investors on Tuesday, August 4th. Scotiabank analyst K. Gupta now anticipates that the business services provider will earn $9.09 per share for the year, down from their prior estimate of $9.17. Scotiabank currently has a “Sector Perform” rating and a $260.00 target price on the stock. The consensus estimate for Waste Management’s current full-year earnings is $8.14 per share.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 earnings per share.

Several other research firms have also recently commented on WM. UBS Group raised their target price on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada boosted their target price on shares of Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Oppenheimer reduced their price target on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. Finally, Stifel Nicolaus upped their price objective on shares of Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

Waste Management Stock Performance

Shares of Waste Management stock opened at $229.14 on Friday. The business has a 50-day moving average price of $226.36 and a two-hundred day moving average price of $227.87. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The company has a market cap of $91.59 billion, a P/E ratio of 32.46, a PEG ratio of 2.76 and a beta of 0.44.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio is presently 53.54%.

Institutional Trading of Waste Management

Several hedge funds have recently bought and sold shares of the business. Elevated Capital Advisors LLC acquired a new position in Waste Management during the fourth quarter worth $25,000. Financial Network Wealth Advisors LLC lifted its stake in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares in the last quarter. RHL Group LLC acquired a new position in shares of Waste Management during the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Waste Management during the third quarter worth about $30,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.