Zacks Research Has Bullish Estimate for WM FY2024 Earnings

Waste Management, Inc. (NYSE:WM) – Equities researchers at Zacks Research lifted their FY2024 earnings per share estimates for shares of Waste Management in a research note issued to investors on Monday, November 18th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings per share of $7.29 for the year, up from their previous estimate of $7.11. The consensus estimate for Waste Management’s current full-year earnings is $7.32 per share. Zacks Research also issued estimates for Waste Management’s Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.98 EPS, Q3 2025 earnings at $2.01 EPS, Q4 2025 earnings at $1.95 EPS, FY2025 earnings at $7.69 EPS, Q1 2026 earnings at $2.01 EPS, Q2 2026 earnings at $2.32 EPS and Q3 2026 earnings at $2.25 EPS.

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

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $226.11.

Waste Management Trading Up 1.3 %

NYSE:WM opened at $221.53 on Wednesday. The business’s 50-day moving average is $212.52 and its two-hundred day moving average is $210.00. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management has a 12 month low of $168.73 and a 12 month high of $226.84. The firm has a market capitalization of $88.92 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. Waste Management’s payout ratio is currently 45.87%.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently made changes to their positions in WM. International Assets Investment Management LLC boosted its position in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares during the period. Capital World Investors lifted its position in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the period. Swedbank AB acquired a new stake in Waste Management in the first quarter worth approximately $193,955,000. Wulff Hansen & CO. lifted its position in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB lifted its position in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after purchasing an additional 720,358 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

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.