William Blair Has Pessimistic Outlook of WM FY2024 Earnings

Waste Management, Inc. (NYSE:WM) – Investment analysts at William Blair lowered their FY2024 earnings estimates for shares of Waste Management in a research report issued on Wednesday, October 30th. William Blair analyst T. Romeo now anticipates that the business services provider will post earnings per share of $7.15 for the year, down from their previous estimate of $7.25. William Blair has a “Outperform” rating on the stock. The consensus estimate for Waste Management’s current full-year earnings is $7.24 per share. William Blair also issued estimates for Waste Management’s Q4 2024 earnings at $1.82 EPS, Q1 2025 earnings at $1.89 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $2.09 EPS, Q4 2025 earnings at $2.06 EPS, FY2025 earnings at $8.03 EPS and FY2026 earnings at $8.95 EPS.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis.

A number of other research firms also recently commented on WM. Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. Argus raised their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets lifted their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird decreased their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $226.05.

Waste Management Trading Up 0.5 %

Shares of WM stock opened at $215.85 on Thursday. The stock has a market cap of $86.62 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a 50 day simple moving average of $209.26 and a 200 day simple moving average of $208.77. Waste Management has a 1 year low of $162.03 and a 1 year high of $225.00.

Institutional Trading of Waste Management

A number of hedge funds have recently bought and sold shares of WM. LS Investment Advisors LLC boosted its stake in Waste Management by 0.5% in the third quarter. LS Investment Advisors LLC now owns 27,504 shares of the business services provider’s stock valued at $5,710,000 after acquiring an additional 145 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. lifted its stake in Waste Management by 64.7% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,484 shares of the business services provider’s stock worth $516,000 after purchasing an additional 976 shares in the last quarter. Trinity Legacy Partners LLC raised its position in shares of Waste Management by 3.8% in the third quarter. Trinity Legacy Partners LLC now owns 28,929 shares of the business services provider’s stock worth $6,176,000 after buying an additional 1,061 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of Waste Management by 7.5% during the 3rd quarter. Portside Wealth Group LLC now owns 2,390 shares of the business services provider’s stock valued at $496,000 after acquiring an additional 167 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Waste Management by 6.2% during the third quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock valued at $99,759,000 after purchasing an additional 28,266 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

About Waste Management

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.