Waste Management, Inc. to Post FY2024 Earnings of $7.25 Per Share, William Blair Forecasts (NYSE:WM)

Waste Management, Inc. (NYSE:WM) – Research analysts at William Blair issued their FY2024 earnings estimates for Waste Management in a research report issued to clients and investors on Thursday, October 3rd. William Blair analyst T. Romeo anticipates that the business services provider will post earnings per share of $7.25 for the year. 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 FY2025 earnings at $7.96 EPS and FY2026 earnings at $8.88 EPS.

A number of other equities analysts have also commented on the stock. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Robert W. Baird cut their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Price Performance

Shares of NYSE:WM opened at $205.41 on Monday. The firm has a market cap of $82.39 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. The firm’s fifty day moving average is $206.74 and its 200-day moving average is $208.50. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management has a 52 week low of $153.95 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.51 earnings per share.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after purchasing an additional 48,549 shares in the last quarter. Pinkerton Retirement Specialists LLC grew its position in Waste Management by 18.6% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after purchasing an additional 3,145 shares in the last quarter. Sunbelt Securities Inc. grew its position in Waste Management by 8.8% in the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after purchasing an additional 61 shares in the last quarter. Logan Capital Management Inc. grew its position in Waste Management by 39.0% in the 4th quarter. Logan Capital Management Inc. now owns 4,258 shares of the business services provider’s stock worth $763,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Alaska Permanent Fund Corp grew its position in Waste Management by 240.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 24,383 shares of the business services provider’s stock worth $5,197,000 after purchasing an additional 17,225 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.