Scotiabank Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price target upped by equities research analysts at Scotiabank from $250.00 to $260.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s price target indicates a potential upside of 7.18% from the company’s previous close.

WM has been the topic of a number of other research reports. Weiss Ratings downgraded shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. TD Cowen increased their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Citigroup raised their price objective on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Robert W. Baird increased their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada raised their target price on Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $256.70.

Waste Management Trading Up 4.2%

Shares of NYSE WM traded up $9.79 during midday trading on Thursday, hitting $242.59. The stock had a trading volume of 1,041,153 shares, compared to its average volume of 2,193,960. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a market capitalization of $97.42 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 2.85 and a beta of 0.44. The company has a fifty day moving average price of $221.30 and a 200 day moving average price of $226.26.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the company earned $1.67 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Waste Management will post 8.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Sprott Inc. acquired a new position in Waste Management during the first quarter worth about $325,000. Sei Investments Co. raised its position in Waste Management by 8.0% in the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after acquiring an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after acquiring an additional 148,590 shares during the last quarter. Finally, Glenview Trust co lifted its holdings in Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

About Waste Management

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.