Waste Management, Inc. (NYSE:WM – Free Report) – Investment analysts at Zacks Research lifted their Q2 2024 earnings per share estimates for Waste Management in a research report issued to clients and investors on Monday, May 13th. Zacks Research analyst R. Department now forecasts that the business services provider will post earnings of $1.80 per share for the quarter, up from their previous forecast of $1.72. The consensus estimate for Waste Management’s current full-year earnings is $7.26 per share. Zacks Research also issued estimates for Waste Management’s Q3 2024 earnings at $1.87 EPS, FY2024 earnings at $7.22 EPS, Q2 2025 earnings at $2.02 EPS, Q4 2025 earnings at $1.91 EPS, FY2025 earnings at $7.69 EPS, Q1 2026 earnings at $2.07 EPS and FY2026 earnings at $8.80 EPS.
Waste Management (NYSE:WM – Get Free Report) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis.
Several other equities research analysts have also recently weighed in on the stock. Citigroup increased their price target on shares of Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Raymond James increased their target price on Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and raised their price objective for the company from $190.00 to $205.00 in a research report on Wednesday, February 14th. Morgan Stanley lifted their target price on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Oppenheimer raised their price objective on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.24.
Get Our Latest Stock Analysis on WM
Waste Management Trading Down 0.5 %
Shares of WM stock opened at $209.83 on Tuesday. Waste Management has a 12-month low of $149.71 and a 12-month high of $214.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The business has a 50-day moving average price of $209.38 and a two-hundred day moving average price of $191.25. The firm has a market cap of $84.16 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.
Institutional Trading of Waste Management
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $27,000. Gilfoyle & Co LLC purchased a new position in shares of Waste Management in the fourth quarter valued at approximately $30,000. Millburn Ridgefield Corp acquired a new position in shares of Waste Management in the third quarter valued at approximately $35,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Waste Management during the 1st quarter worth approximately $35,000. 80.40% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Waste Management
In other news, EVP John J. Morris sold 8,889 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through
Read More: Equities Analysts Set Expectations for Waste Management, Inc.’s Q2 2024 Earnings