Barclays Issues Pessimistic Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its target price lowered by equities research analysts at Barclays from $272.00 to $271.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Barclays‘s price target would indicate a potential upside of 23.69% from the stock’s previous close.

A number of other brokerages have also recently weighed in on WM. National Bankshares decreased their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday. Stifel Nicolaus started coverage on Waste Management in a research report on Tuesday, September 30th. They set a “buy” rating and a $252.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research report on Wednesday. CIBC upped their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Finally, Raymond James Financial upped their target price on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $254.32.

Waste Management Trading Up 0.7%

Shares of NYSE WM opened at $219.09 on Thursday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market capitalization of $88.26 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. Waste Management has a 1-year low of $199.69 and a 1-year high of $242.58. The business has a fifty day moving average price of $223.04 and a 200 day moving average price of $227.98.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts expect that Waste Management will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Marion Wealth Management acquired a new position in shares of Waste Management in the third quarter valued at about $200,000. Sound Income Strategies LLC grew its holdings in Waste Management by 10.5% during the third quarter. Sound Income Strategies LLC now owns 632 shares of the business services provider’s stock worth $137,000 after acquiring an additional 60 shares during the period. Thomasville National Bank grew its holdings in Waste Management by 39.8% during the third quarter. Thomasville National Bank now owns 3,513 shares of the business services provider’s stock worth $776,000 after acquiring an additional 1,000 shares during the period. Red Door Wealth Management LLC grew its holdings in Waste Management by 7.9% during the third quarter. Red Door Wealth Management LLC now owns 41,853 shares of the business services provider’s stock worth $9,243,000 after acquiring an additional 3,074 shares during the period. Finally, Corsicana & Co. acquired a new stake in Waste Management during the third quarter worth about $268,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Company Profile

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.