Waste Management (NYSE:WM) Issues Earnings Results, Beats Estimates By $0.04 EPS

Waste Management (NYSE:WM) issued its quarterly earnings data on Tuesday. The business services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.04, Zacks reports. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.

Waste Management Stock Up 0.7%

Shares of WM traded up $1.64 during midday trading on Tuesday, hitting $239.54. The company had a trading volume of 1,991,131 shares, compared to its average volume of 2,167,037. Waste Management has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a market capitalization of $96.19 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.90 and a beta of 0.44. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The company’s 50-day simple moving average is $224.48 and its 200-day simple moving average is $227.26.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is presently 54.70%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WM shares. Wells Fargo & Company decreased their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Oppenheimer decreased their price objective on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Barclays lifted their target price on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Scotiabank raised their price target on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Robert W. Baird lifted their price objective on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $256.74.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. acquired a new position in Waste Management during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new stake in shares of Waste Management in the 3rd quarter valued at $30,000. Meeder Asset Management Inc. lifted its position 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 purchasing an additional 109 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Waste Management during the fourth quarter worth $35,000. Finally, Quattro Advisors LLC purchased a new position in Waste Management in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Company Profile

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.