Scotiabank Raises Earnings Estimates for Waste Management

Key Points

• Scotiabank raised Waste Management’s FY2026 EPS estimate to $8.15 from $8.08 and maintained a “Sector Perform” rating with a $260 price target. Analysts overall rate the stock “Moderate Buy,” with an average target of $258.89.
• Waste Management’s latest quarterly results exceeded expectations, with EPS of $2.02 versus the $1.98 consensus estimate, while revenue rose 4% year over year to $6.68 billion.
• The company pays a quarterly dividend of $0.945 per share, equivalent to a 1.7% yield, and institutional investors own approximately 80.4% of its outstanding stock.

Waste Management, Inc. (NYSE:WM - Free Report) - Equities researchers at Scotiabank raised their FY2026 EPS estimates for shares of Waste Management in a research report issued on Tuesday, August 4th. Scotiabank analyst K. Gupta now anticipates that the business services provider will post earnings per share of $8.15 for the year, up from their prior forecast of $8.08. Scotiabank currently has a "Sector Perform" rating and a $260.00 price objective on the stock. The consensus estimate for Waste Management's current full-year earnings is $8.13 per share.

Several other research firms also recently weighed in on WM. Canadian Imperial Bank of Commerce downgraded Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Royal Bank Of Canada raised their target price on shares of Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Wells Fargo & Company cut their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Stifel Nicolaus upped their target price on Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Barclays raised their price target on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $258.89.

Waste Management Trading Down 0.2%

Shares of NYSE WM opened at $224.70 on Thursday. The stock has a market capitalization of $89.82 billion, a P/E ratio of 31.83, a PEG ratio of 2.77 and a beta of 0.44. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13. The business's 50 day moving average is $226.06 and its two-hundred day moving average is $227.81. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share 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 31.68%. The firm had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm posted $1.92 EPS. The business's quarterly revenue was up 4.0% on a year-over-year basis.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management's dividend payout ratio is currently 53.54%.

Institutional Investors Weigh In On Waste Management

A number of large investors have recently modified their holdings of WM. Vanguard Group Inc. boosted its stake in Waste Management by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after purchasing an additional 553,605 shares in the last quarter. State Street Corp raised its holdings in shares of Waste Management by 1.6% in the fourth quarter. State Street Corp now owns 17,390,748 shares of the business services provider's stock worth $3,820,921,000 after buying an additional 281,456 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Waste Management by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider's stock worth $1,972,371,000 after buying an additional 117,476 shares during the period. Norges Bank purchased a new stake in shares of Waste Management during the fourth quarter valued at $1,022,916,000. Finally, Northern Trust Corp increased its position in shares of Waste Management by 0.3% in the 3rd quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider's stock valued at $873,276,000 after acquiring an additional 11,688 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Company Profile

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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