UBS Group Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Key Points

• UBS Group raised Waste Management’s price target from $265 to $270 and maintained a “buy” rating, implying 19.64% 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 $258.89.
• Waste Management’s latest quarter beat earnings expectations with EPS of $2.02 versus $1.98 expected, while revenue rose 4% year over year to $6.68 billion, slightly below estimates.

Waste Management (NYSE:WM - Get Free Report) had its target price increased by investment analysts at UBS Group from $265.00 to $270.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. UBS Group's price objective would indicate a potential upside of 19.64% from the stock's previous close.

Several other research analysts also recently commented on the company. Barclays lifted their price objective on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Weiss Ratings cut Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Royal Bank Of Canada increased their target price on Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Finally, Citigroup upped their target price on shares of Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Waste Management Stock Down 0.3%

Shares of WM traded down $0.76 during trading hours on Tuesday, hitting $225.67. The stock had a trading volume of 1,639,029 shares, compared to its average volume of 2,176,520. The firm has a 50 day simple moving average of $225.69 and a 200-day simple moving average of $227.73. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. The firm has a market capitalization of $90.20 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 2.79 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to analysts' expectations of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 earnings per share. Sell-side analysts predict that Waste Management will post 8.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently bought and sold shares of WM. Elevated Capital Advisors LLC purchased a new stake in Waste Management in the fourth quarter worth approximately $25,000. RHL Group LLC purchased a new stake in Waste Management during the fourth quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC raised its position in Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after acquiring an additional 47 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management during the 4th quarter worth $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Waste Management during the 3rd quarter valued at $30,000. 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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