Waste Management (NYSE:WM) Announces Earnings Results, Beats Estimates By $0.07 EPS

Waste Management (NYSE:WM) released its quarterly earnings results on Monday. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07, Briefing.com reports. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. Waste Management updated its FY 2024 guidance to EPS.

Waste Management Trading Up 5.2 %

NYSE:WM opened at $219.11 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a fifty day simple moving average of $209.03 and a 200-day simple moving average of $208.67. Waste Management has a 12 month low of $161.60 and a 12 month high of $225.00. The company has a market capitalization of $87.93 billion, a P/E ratio of 34.83, a PEG ratio of 2.29 and a beta of 0.74.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is presently 47.69%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WM shares. BMO Capital Markets reduced their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Scotiabank began coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Finally, Truist Financial reduced their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.89.

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.