Brokers Set Expectations for WM FY2024 Earnings

Waste Management, Inc. (NYSE:WM) – Equities research analysts at Scotiabank issued their FY2024 earnings estimates for shares of Waste Management in a research note issued on Wednesday, January 8th. Scotiabank analyst K. Gupta forecasts that the business services provider will post earnings per share of $7.38 for the year. Scotiabank has a “Sector Perform” rating and a $220.00 price objective on the stock. The consensus estimate for Waste Management’s current full-year earnings is $7.32 per share. Scotiabank also issued estimates for Waste Management’s FY2025 earnings at $8.07 EPS and FY2026 earnings at $9.14 EPS.

Several other equities analysts have also commented on the company. Morgan Stanley raised their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. William Blair started coverage on Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial increased their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Trading Down 0.3 %

WM opened at $206.98 on Monday. The stock has a market cap of $83.07 billion, a PE ratio of 31.65, a PEG ratio of 2.36 and a beta of 0.77. The business has a 50 day moving average of $214.44 and a 200-day moving average of $211.25. Waste Management has a 52 week low of $180.17 and a 52 week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. During the same period in the prior year, the firm earned $1.63 earnings per share. Waste Management’s revenue was up 7.9% on a year-over-year basis.

Hedge Funds Weigh In On Waste Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Activest Wealth Management boosted its stake in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. bought a new stake in Waste Management during the fourth quarter valued at about $29,000. Fairway Wealth LLC increased its position in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management in the second quarter worth about $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.