FY2024 Earnings Estimate for WM Issued By Scotiabank

Waste Management, Inc. (NYSE:WM - Free Report) - Equities researchers at Scotiabank issued their FY2024 earnings per share estimates for shares of Waste Management in a research report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta anticipates that the business services provider will post earnings per share of $7.38 for the year. Scotiabank currently has a "Sector Perform" rating and a $220.00 price objective 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.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share.

Several other research firms have also weighed in on WM. Oppenheimer raised their price objective on shares of Waste Management from $230.00 to $231.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. BMO Capital Markets raised their price target on 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 boosted their price objective on Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. StockNews.com lowered Waste Management from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $230.72.

Waste Management Price Performance

Shares of Waste Management stock traded down $0.13 during mid-day trading on Monday, reaching $207.12. 1,459,175 shares of the stock were exchanged, compared to its average volume of 1,760,464. The company 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 has a fifty-two week low of $180.17 and a fifty-two week high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a 50-day simple moving average of $214.62 and a 200 day simple moving average of $211.29.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Waste Management's payout ratio is currently 45.87%.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waste Management

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Waste Management by 24.2% during the second quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider's stock valued at $14,427,000 after purchasing an additional 13,193 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Waste Management by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 47,596 shares of the business services provider's stock worth $10,154,000 after buying an additional 431 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in Waste Management by 50.9% during the second quarter. Thoroughbred Financial Services LLC now owns 9,373 shares of the business services provider's stock worth $1,999,000 after acquiring an additional 3,162 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Waste Management by 11.3% during the second quarter. Wealthspire Advisors LLC now owns 6,174 shares of the business services provider's stock worth $1,317,000 after acquiring an additional 628 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Waste Management by 4.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,266 shares of the business services provider's stock valued at $1,763,000 after purchasing an additional 358 shares during the period. Institutional investors own 80.40% of the company's stock.

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.