Waste Management, Inc. (WM) Expected to Announce Quarterly Sales of $3.69 Billion

Analysts predict that Waste Management, Inc. (NYSE:WM) will report sales of $3.69 billion for the current quarter, according to Zacks. Four analysts have made estimates for Waste Management’s earnings, with the highest sales estimate coming in at $3.71 billion and the lowest estimate coming in at $3.67 billion. Waste Management reported sales of $3.51 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The company is scheduled to issue its next earnings report before the market opens on Thursday, April 25th.

On average, analysts expect that Waste Management will report full year sales of $15.64 billion for the current fiscal year, with estimates ranging from $15.48 billion to $15.73 billion. For the next financial year, analysts anticipate that the company will post sales of $16.31 billion, with estimates ranging from $15.96 billion to $16.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Waste Management.

Waste Management (NYSE:WM) last announced its earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year.

Several research firms recently issued reports on WM. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Monday, December 31st. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $103.00 in a report on Thursday, January 10th. Oppenheimer increased their price target on shares of Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. KeyCorp began coverage on shares of Waste Management in a report on Monday, February 4th. They set an “overweight” rating and a $96.00 price target for the company. Finally, Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and set a $103.00 price target for the company. in a report on Thursday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $101.71.

Shares of WM traded up $1.11 during mid-day trading on Friday, hitting $101.68. 55,938 shares of the company’s stock were exchanged, compared to its average volume of 1,756,041. Waste Management has a fifty-two week low of $79.96 and a fifty-two week high of $104.80. The company has a market capitalization of $42.71 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85.

Waste Management announced that its Board of Directors has initiated a share buyback program on Thursday, December 13th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.5125 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio (DPR) is 48.81%.

In other Waste Management news, Director Patrick W. Gross sold 365 shares of Waste Management stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total value of $33,955.95. Following the transaction, the director now owns 53,058 shares in the company, valued at approximately $4,935,985.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tara J. Hmmer sold 472 shares of Waste Management stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.81, for a total transaction of $46,638.32. Following the completion of the transaction, the senior vice president now owns 17,208 shares in the company, valued at approximately $1,700,322.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,092 shares of company stock worth $402,648. 0.30% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of WM. We Are One Seven LLC purchased a new stake in Waste Management during the 4th quarter worth $26,000. Larson Financial Group LLC purchased a new stake in Waste Management during the 4th quarter worth $26,000. Executive Wealth Management LLC purchased a new stake in Waste Management during the 4th quarter worth $26,000. Altshuler Shaham Ltd purchased a new stake in Waste Management during the 4th quarter worth $27,000. Finally, Washington Trust Bank bought a new stake in shares of Waste Management in the 1st quarter worth about $28,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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