Barclays Increases Waste Management (NYSE:WM) Price Target to $277.00

Key Points

• Barclays raised Waste Management’s price target to $277 from $270 and maintained an “overweight” rating, implying 16.82% potential upside from the prior close.
• Analyst sentiment remains positive, with 14 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $257.61.
• Waste Management recently exceeded quarterly EPS estimates, reporting $2.02 versus $1.98 expected, while revenue rose 4% year over year to $6.68 billion, slightly below forecasts.

Waste Management (NYSE:WM - Get Free Report) had its price objective hoisted by equities research analysts at Barclays from $270.00 to $277.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the business services provider's stock. Barclays's target price suggests a potential upside of 16.82% from the company's previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen lifted their target price on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Scotiabank raised their price objective on Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 16th. Wells Fargo & Company lowered their price objective on Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Finally, Canadian Imperial Bank of Commerce raised shares of Waste Management from a "hold" rating to an "outperformer" rating and set a $244.00 price target on the stock in a report on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $257.61.

Waste Management Stock Down 1.0%

WM stock opened at $237.12 on Thursday. Waste Management has a 52-week low of $194.11 and a 52-week high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $95.22 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.91 and a beta of 0.44. The company has a 50-day moving average of $225.18 and a two-hundred day moving average of $227.56.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.74%. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Waste Management's revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management will post 8.16 EPS for the current year.

Institutional Trading of Waste Management

A number of hedge funds have recently modified their holdings of the stock. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management in the fourth quarter valued at about $25,000. RHL Group LLC bought a new position in Waste Management in the fourth quarter valued at about $29,000. Financial Network Wealth Advisors LLC boosted its stake in shares of Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after purchasing an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the 4th quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Waste Management during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 80.40% of the company's stock.

About Waste Management

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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