Brokers Offer Predictions for WM FY2024 Earnings

Waste Management, Inc. (NYSE:WM) – Investment analysts at Scotiabank issued their FY2024 earnings estimates for Waste Management in a report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta expects that the business services provider will earn $7.38 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $220.00 price target 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.

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

A number of other research analysts have also commented on WM. Truist Financial lifted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. Oppenheimer lifted their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.72.

Waste Management Stock Up 0.2 %

WM opened at $207.02 on Monday. Waste Management has a one year low of $177.83 and a one year high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market capitalization of $83.09 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The business’s 50-day simple moving average is $214.76 and its 200-day simple moving average is $211.33.

Waste Management Announces Dividend

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

Insider Transactions 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 owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently made changes to their positions in WM. Geode Capital Management LLC grew its position in Waste Management by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after acquiring an additional 168,818 shares in the last quarter. Parnassus Investments LLC increased its stake in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares during the period. Ameriprise Financial Inc. lifted its holdings in Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after buying an additional 12,664 shares in the last quarter. Nordea Investment Management AB boosted its position in Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after buying an additional 280,455 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after acquiring an additional 243,900 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.