Analysts at KeyCorp assumed coverage on shares of Waste Management (NYSE:WM) in a report released on Monday, February 4th, MarketBeat Ratings reports. The firm set an “overweight” rating and a $96.00 price target on the business services provider’s stock. KeyCorp’s price target indicates a potential downside of 4.95% from the stock’s previous close. KeyCorp also issued estimates for Waste Management’s Q1 2019 earnings at $1.00 EPS, Q2 2019 earnings at $1.19 EPS, Q3 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.17 EPS, FY2019 earnings at $4.57 EPS, Q1 2020 earnings at $1.11 EPS, Q2 2020 earnings at $1.31 EPS, Q3 2020 earnings at $1.37 EPS, Q4 2020 earnings at $1.27 EPS and FY2020 earnings at $5.06 EPS.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. BMO Capital Markets upped their target price on shares of Waste Management to $98.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. They noted that the move was a valuation call. Finally, UBS Group set a $90.00 price objective on shares of Waste Management and gave the company a “hold” rating in a research note on Friday, October 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $101.00.
Shares of NYSE WM traded down $0.25 on Monday, hitting $101.00. The company’s stock had a trading volume of 1,610,266 shares, compared to its average volume of 1,836,371. Waste Management has a 12-month low of $79.96 and a 12-month high of $101.78. The company has a market capitalization of $42.52 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.85 and a quick ratio of 0.82.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Waste Management will post 4.38 EPS for the current fiscal year.
Waste Management declared that its Board of Directors has approved a stock repurchase program on Thursday, December 13th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the business services provider to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, SVP Tara J. Hmmer sold 472 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $98.81, for a total transaction of $46,638.32. Following the transaction, the senior vice president now owns 17,208 shares of the company’s stock, valued at $1,700,322.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 8,107 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total transaction of $765,381.87. Following the transaction, the chief financial officer now directly owns 21,373 shares in the company, valued at approximately $2,017,824.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,199 shares of company stock valued at $1,168,030. 0.30% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Waste Management during the fourth quarter worth $26,000. Executive Wealth Management LLC acquired a new stake in Waste Management during the fourth quarter worth $26,000. We Are One Seven LLC acquired a new stake in Waste Management during the fourth quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in Waste Management during the fourth quarter worth $27,000. Finally, Gantzert Investment Co. LLC ADV acquired a new stake in Waste Management during the fourth quarter worth $31,000. 74.70% of the stock is currently owned by institutional investors.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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