Citigroup Lowers Waste Management (NYSE:WM) Price Target to $268.00

Waste Management (NYSE:WM) had its target price decreased by Citigroup from $275.00 to $268.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Citigroup currently has a buy rating on the business services provider’s stock.

A number of other research analysts have also commented on WM. National Bank Financial raised Waste Management to a “hold” rating in a research report on Monday, May 26th. Scotiabank upped their price target on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 price objective on the stock in a research report on Monday, June 9th. CIBC lifted their target price on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Finally, BMO Capital Markets upped their price target on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.18.

Waste Management Price Performance

NYSE WM opened at $215.88 on Tuesday. The firm’s 50-day simple moving average is $226.23 and its two-hundred day simple moving average is $228.86. The company has a market cap of $86.96 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. Waste Management has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Research analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is currently 48.96%.

Institutional Investors Weigh In On Waste Management

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Waste Management by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after purchasing an additional 292,868 shares in the last quarter. Geode Capital Management LLC increased its holdings in Waste Management by 1.5% during the second quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after buying an additional 126,329 shares during the period. Ameriprise Financial Inc. raised its stake in Waste Management by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock worth $1,232,131,000 after buying an additional 74,528 shares in the last quarter. Norges Bank purchased a new stake in Waste Management during the second quarter worth $1,064,206,000. Finally, Northern Trust Corp increased its holdings in shares of Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock valued at $941,709,000 after acquiring an additional 70,907 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

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.