FY2024 Earnings Estimate for WM Issued By Scotiabank

Waste Management, Inc. (NYSE:WM) – Stock analysts at Scotiabank issued their FY2024 earnings estimates for Waste Management in a research report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta forecasts that the business services provider will post earnings of $7.38 per share for the year. Scotiabank 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.

A number of other research firms have also recently weighed in on WM. BMO Capital Markets lifted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. 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 report on Wednesday, October 30th. William Blair initiated coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Truist Financial lifted their price target 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. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Price Performance

NYSE:WM opened at $207.12 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The company has a 50 day moving average price of $214.62 and a 200-day moving average price of $211.29. Waste Management has a 1-year low of $180.17 and a 1-year high of $230.39. The firm has a market cap of $83.13 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS 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 firm 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 earned $1.63 earnings per share. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year.

Institutional Trading of Waste Management

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Activest Wealth Management boosted its position in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates boosted its holdings in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares during the period. General Partner Inc. acquired a new position in Waste Management in the 4th quarter valued at about $29,000. Fairway Wealth LLC increased its stake in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the second quarter valued at approximately $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction 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 sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents 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 available through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Announces Dividend

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

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.