$3.94 Billion in Sales Expected for Waste Management, Inc. (WM) This Quarter

Brokerages predict that Waste Management, Inc. (NYSE:WM) will post $3.94 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Waste Management’s earnings. The lowest sales estimate is $3.92 billion and the highest is $3.95 billion. Waste Management posted sales of $3.74 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is expected to issue its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that Waste Management will report full-year sales of $15.62 billion for the current financial year, with estimates ranging from $15.53 billion to $15.67 billion. For the next financial year, analysts expect that the business will report sales of $16.33 billion, with estimates ranging from $16.09 billion to $16.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Waste Management.

Waste Management (NYSE:WM) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS.

A number of brokerages have recently issued reports on WM. Royal Bank of Canada began coverage on Waste Management in a research report on Wednesday, May 1st. They set a “sector perform” rating and a $113.00 price target for the company. Oppenheimer boosted their target price on Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Argus boosted their target price on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $106.00 in a research note on Thursday, April 4th. Finally, Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and a consensus target price of $105.22.

Shares of WM traded down $1.16 during trading hours on Tuesday, reaching $108.43. 1,200,077 shares of the company’s stock traded hands, compared to its average volume of 1,724,508. The company has a market cap of $46.06 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 2.96 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 1.45. Waste Management has a 12 month low of $79.96 and a 12 month high of $109.99.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.5125 dividend. This represents a $2.05 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, June 6th. Waste Management’s dividend payout ratio (DPR) is 48.81%.

In other Waste Management news, EVP John J. Morris sold 42,795 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the sale, the executive vice president now directly owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Watson sold 700 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total value of $73,185.00. Following the completion of the sale, the vice president now directly owns 9,518 shares in the company, valued at $995,106.90. The disclosure for this sale can be found here. Insiders sold 43,811 shares of company stock worth $4,657,346 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Waste Management by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock valued at $2,817,372,000 after purchasing an additional 1,025,813 shares in the last quarter. Parnassus Investments CA increased its stake in shares of Waste Management by 1.3% during the 4th quarter. Parnassus Investments CA now owns 5,879,967 shares of the business services provider’s stock worth $523,258,000 after purchasing an additional 73,432 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Waste Management by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after purchasing an additional 326,408 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Waste Management by 1.4% during the 1st quarter. Northern Trust Corp now owns 5,096,397 shares of the business services provider’s stock worth $529,567,000 after acquiring an additional 72,356 shares during the period. Finally, Norges Bank bought a new position in shares of Waste Management during the 4th quarter worth about $402,210,000. 74.16% 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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