William Blair Cuts Earnings Estimates for Waste Management

Waste Management, Inc. (NYSE:WM) – Research analysts at William Blair cut their FY2024 EPS estimates for shares of Waste Management in a note issued to investors on Wednesday, October 30th. William Blair analyst T. Romeo now anticipates that the business services provider will earn $7.15 per share for the year, down from their previous forecast of $7.25. William Blair 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 Q4 2024 earnings at $1.82 EPS, Q1 2025 earnings at $1.89 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $2.09 EPS, Q4 2025 earnings at $2.06 EPS, FY2025 earnings at $8.03 EPS and FY2026 earnings at $8.95 EPS.

Several other research analysts have also issued reports on the stock. Robert W. Baird decreased their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. CIBC increased their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday. BMO Capital Markets raised their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Oppenheimer raised their price target on shares of Waste Management from $224.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.28.

Waste Management Stock Down 1.9 %

Shares of Waste Management stock opened at $214.95 on Thursday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a 50-day moving average of $209.14 and a 200 day moving average of $208.72. The firm has a market cap of $86.26 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.29 and a beta of 0.74. Waste Management has a 1 year low of $162.03 and a 1 year high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the second quarter worth about $31,000. Fairway Wealth LLC raised its holdings in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter worth about $36,000. Finally, Fairscale Capital LLC bought a new position in Waste Management in the second quarter worth about $39,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.