Oppenheimer Issues Pessimistic Forecast for Waste Management (NYSE:WM) Stock Price

Key Points

• Oppenheimer has lowered its target price for Waste Management stock from $265.00 to $262.00, indicating a potential upside of 19.50% from the current price while maintaining an "outperform" rating.
• The stock has consensus ratings of "Moderate Buy" with a target price of $254.37, with two analysts rating it as a Strong Buy and fourteen as a Buy.
• In its last quarterly earnings report, Waste Management posted an EPS of $1.92, exceeding estimates, and showed a significant 19.0% increase in revenue year-over-year.

Waste Management (NYSE:WM - Get Free Report) had its target price lowered by stock analysts at Oppenheimer from $265.00 to $262.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the business services provider's stock. Oppenheimer's price target suggests a potential upside of 19.50% from the stock's current price.

Other research analysts have also issued research reports about the company. Weiss Ratings reissued a "buy (b)" rating on shares of Waste Management in a research report on Saturday, September 27th. Citigroup decreased their target price on Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. William Blair reissued an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. CIBC raised their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial lifted their price target on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.37.

Waste Management Price Performance

Waste Management stock traded up $1.69 during midday trading on Wednesday, hitting $219.25. 373,913 shares of the company's stock were exchanged, compared to its average volume of 1,690,086. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a 50-day moving average price of $223.72 and a two-hundred day moving average price of $228.15. Waste Management has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a market cap of $88.32 billion, a P/E ratio of 32.53, a PEG ratio of 2.66 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company's revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Waste Management will post 7.7 earnings per share for the current year.

Institutional Investors Weigh In On Waste Management

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Waste Management by 0.8% in the second quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider's stock valued at $8,617,866,000 after purchasing an additional 292,868 shares during the last quarter. Geode Capital Management LLC raised its holdings in Waste Management by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider's stock valued at $1,972,856,000 after acquiring an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Waste Management by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider's stock worth $1,232,131,000 after purchasing an additional 74,528 shares during the period. Norges Bank purchased a new position in shares of Waste Management in the 2nd quarter valued at about $1,064,206,000. Finally, Northern Trust Corp boosted its holdings in Waste Management by 1.8% in the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after purchasing an additional 70,907 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

About Waste Management

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.

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