Waste Management (NYSE:WM) Coverage Initiated at Barclays

Key Points

• Barclays has initiated coverage on Waste Management (NYSE:WM) with an "overweight" rating and a price target of $272.00, suggesting a potential upside of 26% from its previous close.
• Other analysts have also shown optimism, with JPMorgan Chase upgrading the stock from "neutral" to "overweight" and raising their price target to $277.00.
• Overall, Waste Management holds a consensus rating of "Moderate Buy" with an average price target of $255.17, reflecting positive sentiment among investors.

Analysts at Barclays assumed coverage on shares of Waste Management (NYSE:WM - Get Free Report) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $272.00 price target on the business services provider's stock. Barclays's price target suggests a potential upside of 25.80% from the stock's previous close.

A number of other brokerages also recently weighed in on WM. BMO Capital Markets boosted their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. CIBC boosted their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Raymond James Financial boosted their price target on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $255.17.

Waste Management Stock Down 0.4%

Waste Management stock traded down $0.78 during midday trading on Friday, hitting $216.21. 460,595 shares of the company were exchanged, compared to its average volume of 1,704,942. The company's fifty day moving average price is $225.80 and its 200-day moving average price is $228.69. The company has a market cap of $87.10 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for 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%.Waste Management's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts predict that Waste Management will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WM. Westend Capital Management LLC increased its holdings in shares of Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC increased its position in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the period. Saudi Central Bank acquired a new position in shares of Waste Management in the first quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management in the first quarter valued at $38,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Waste Management in the second quarter valued at $40,000. 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.