Waste Management (NYSE:WM) Downgraded to "Hold" Rating by Erste Group Bank

Key Points

• Waste Management has been downgraded to a "hold" rating by Erste Group Bank from a previous "buy" rating as of Thursday.
• Several analysts have adjusted their price targets for Waste Management stock, with targets ranging from $248.00 to $277.00, reflecting overall mixed sentiments among analysts.
• The company reported $1.92 earnings per share for the last quarter, exceeding estimates and indicating a revenue increase of 19% year-over-year.

Waste Management (NYSE:WM - Get Free Report) was downgraded by analysts at Erste Group Bank from a "buy" rating to a "hold" rating in a research note issued on Thursday,Finviz reports.

A number of other analysts have also recently commented on the company. BMO Capital Markets lifted their price target on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. CIBC upped their price target on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. UBS Group upped their price target on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial increased their price objective 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 analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Trading Down 0.7%

Shares of NYSE:WM opened at $217.67 on Thursday. Waste Management has a 12-month low of $199.69 and a 12-month high of $242.58. The business's fifty day simple moving average is $227.34 and its 200-day simple moving average is $229.45. The company has a market capitalization of $87.68 billion, a PE ratio of 32.30, a P/E/G ratio of 2.69 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $1.82 EPS. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Waste Management will post 7.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently made changes to their positions in WM. Westend Capital Management LLC grew its holdings in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares during the last quarter. West Branch Capital LLC lifted its position in Waste Management by 69.0% in 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 stake in Waste Management in the first quarter valued at about $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the first quarter valued at about $38,000. Finally, Adalta Capital Management LLC acquired a new stake in Waste Management in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors 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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