William Blair Comments on Waste Management, Inc.’s FY2024 Earnings (NYSE:WM)

by · The Markets Daily

Waste Management, Inc. (NYSE:WM – Free Report) – Equities researchers at William Blair issued their FY2024 earnings per share (EPS) estimates for Waste Management in a research report issued to clients and investors on Thursday, October 3rd. William Blair analyst T. Romeo anticipates that the business services provider will post earnings of $7.25 per share for the year. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Waste Management’s current full-year earnings is $7.24 per share. William Blair also issued estimates for Waste Management’s FY2025 earnings at $7.96 EPS and FY2026 earnings at $8.88 EPS.

Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.

WM has been the topic of several other reports. Truist Financial cut their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird cut their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. BMO Capital Markets decreased their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Finally, CIBC reduced their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Check Out Our Latest Report on WM

Waste Management Stock Up 1.6 %

Shares of WM opened at $208.68 on Monday. Waste Management has a fifty-two week low of $153.95 and a fifty-two week high of $225.00. The company’s fifty day moving average is $206.84 and its two-hundred day moving average is $208.45. The firm has a market cap of $83.75 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Waste Management

A number of institutional investors have recently made changes to their positions in WM. Morningstar Investment Services LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $356,000. OLD Point Trust & Financial Services N A bought a new position in Waste Management in the fourth quarter worth about $124,000. Logan Capital Management Inc. grew its holdings in shares of Waste Management by 39.0% during the fourth quarter. Logan Capital Management Inc. now owns 4,258 shares of the business services provider’s stock valued at $763,000 after purchasing an additional 1,195 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Waste Management by 3.9% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 35,364 shares of the business services provider’s stock worth $6,334,000 after purchasing an additional 1,315 shares during the period. Finally, XML Financial LLC boosted its position in Waste Management by 11.0% during the 4th quarter. XML Financial LLC now owns 5,043 shares of the business services provider’s stock valued at $903,000 after purchasing an additional 499 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Company Profile

(Get Free Report)

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.

Read More