StockNews.com Downgrades Waste Management (NYSE:WM) to Buy

StockNews.com cut shares of Waste Management (NYSE:WMGet Rating) from a strong-buy rating to a buy rating in a report published on Monday morning.

WM has been the subject of several other reports. Raymond James decreased their price target on shares of Waste Management from $173.00 to $170.00 and set an outperform rating for the company in a research note on Tuesday, October 25th. Morgan Stanley lowered their price target on shares of Waste Management from $180.00 to $177.00 and set an equal weight rating on the stock in a research note on Thursday, October 27th. Jefferies Financial Group upgraded shares of Waste Management from a hold rating to a buy rating and increased their price objective for the stock from $170.00 to $191.00 in a research note on Tuesday, October 25th. Finally, Oppenheimer lowered their target price on Waste Management to $169.00 in a research report on Thursday, October 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Waste Management presently has an average rating of Hold and an average price target of $170.75.

Waste Management Trading Up 0.5 %

WM opened at $164.01 on Monday. The stock has a market capitalization of $67.32 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.28 and a beta of 0.71. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.97. Waste Management has a 12 month low of $138.58 and a 12 month high of $175.98. The firm’s fifty day simple moving average is $161.09 and its 200 day simple moving average is $160.31.

Waste Management (NYSE:WMGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.06 billion. Waste Management had a return on equity of 32.48% and a net margin of 11.55%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, research analysts anticipate that Waste Management will post 5.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 1st. Waste Management’s dividend payout ratio is 48.33%.

Institutional Trading of Waste Management

Several hedge funds and other institutional investors have recently modified their holdings of WM. Park Avenue Securities LLC lifted its holdings in shares of Waste Management by 6.5% during the first quarter. Park Avenue Securities LLC now owns 3,185 shares of the business services provider’s stock worth $505,000 after buying an additional 194 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Waste Management by 107.6% in the 1st quarter. SG Americas Securities LLC now owns 6,437 shares of the business services provider’s stock valued at $1,020,000 after purchasing an additional 91,291 shares during the period. FDx Advisors Inc. boosted its holdings in Waste Management by 1.8% in the 1st quarter. FDx Advisors Inc. now owns 6,049 shares of the business services provider’s stock valued at $959,000 after purchasing an additional 107 shares during the period. Edge Capital Group LLC increased its holdings in shares of Waste Management by 1.9% during the first quarter. Edge Capital Group LLC now owns 3,495 shares of the business services provider’s stock worth $554,000 after purchasing an additional 65 shares during the period. Finally, Pinkerton Retirement Specialists LLC increased its holdings in shares of Waste Management by 8.2% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,061 shares of the business services provider’s stock worth $3,180,000 after purchasing an additional 1,525 shares during the period. Institutional investors own 74.74% of the company’s stock.

Waste Management Company Profile

(Get Rating)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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