Waste Management (NYSE:WM - Get Free Report) issued its quarterly earnings results on Tuesday. The business services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.98 by $0.04, Zacks reports. Waste Management had a net margin of 10.99% and a return on equity of 31.90%.
Waste Management Price Performance
NYSE WM traded up $1.64 during trading hours on Tuesday, hitting $239.54. 1,991,131 shares of the company's stock traded hands, compared to its average volume of 2,167,037. The company has a market capitalization of $96.19 billion, a PE ratio of 34.67, a PEG ratio of 2.90 and a beta of 0.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. Waste Management has a 52-week low of $194.11 and a 52-week high of $248.13. The firm's 50-day moving average is $224.48 and its 200-day moving average is $227.26.
Waste Management Dividend Announcement
The firm also recently declared 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. The ex-dividend date was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. Waste Management's payout ratio is presently 54.70%.
Institutional Investors Weigh In On Waste Management
A number of large investors have recently made changes to their positions in the stock. Mcguire Capital Advisors Inc. purchased a new position in Waste Management during the fourth quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new stake in shares of Waste Management in the 3rd quarter worth $30,000. Meeder Asset Management Inc. raised its holdings in shares of Waste Management by 227.1% during the 4th quarter. Meeder Asset Management Inc. now owns 157 shares of the business services provider's stock worth $34,000 after acquiring an additional 109 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Waste Management during the 4th quarter valued at about $35,000. Finally, Quattro Advisors LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at about $38,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on WM shares. Canadian Imperial Bank of Commerce raised shares of Waste Management from a "hold" rating to an "outperformer" rating and set a $244.00 price objective on the stock in a report on Tuesday, July 7th. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Citigroup raised their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, July 10th. TD Cowen boosted their price objective on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings cut Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.74.
Check Out Our Latest Research Report on WM
Waste Management Company Profile
(
Get Free Report)
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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