UBS Group Cuts Waste Management (NYSE:WM) Price Target to $240.00

Key Points

• UBS Group has reduced its price target for Waste Management (NYSE:WM) from $265.00 to $240.00, maintaining a "neutral" rating, which reflects a potential upside of 12.53% from the current stock price.
• Other research firms have also adjusted their ratings, with Erste Group Bank downgrading Waste Management from "buy" to "hold", while CIBC raised their price target to $250.00.
• As of the latest earnings report, Waste Management reported an EPS of $1.92, exceeding analyst expectations and showing a 19.0% increase in revenue compared to the previous year.

Waste Management (NYSE:WM - Get Free Report) had its price objective dropped by research analysts at UBS Group from $265.00 to $240.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. UBS Group's target price indicates a potential upside of 12.53% from the company's current price.

Other analysts also recently issued research reports about the company. Erste Group Bank downgraded Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. CIBC increased their price target on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Raymond James Financial increased 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Waste Management in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $253.00.

Waste Management Stock Performance

Shares of WM traded down $0.42 during mid-day trading on Thursday, reaching $213.27. The company had a trading volume of 441,444 shares, compared to its average volume of 1,681,723. Waste Management has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $85.91 billion, a P/E ratio of 31.64, a PEG ratio of 2.68 and a beta of 0.64. The stock has a 50 day moving average of $222.19 and a two-hundred day moving average of $227.72.

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

Institutional Investors Weigh In On Waste Management

Several hedge funds and other institutional investors have recently made changes to their positions in WM. Vanguard Group Inc. increased its stake in Waste Management by 0.8% during the second quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider's stock worth $8,617,866,000 after acquiring an additional 292,868 shares during the last quarter. Geode Capital Management LLC increased its stake in Waste Management by 1.5% during the second quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider's stock worth $1,972,856,000 after acquiring an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Waste Management by 1.4% during the second quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider's stock worth $1,232,131,000 after acquiring an additional 74,528 shares during the last quarter. Norges Bank acquired a new stake in Waste Management during the second quarter worth $1,064,206,000. Finally, Northern Trust Corp increased its stake in Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock worth $941,709,000 after acquiring an additional 70,907 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

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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