Waste Management (NYSE:WM) Issues Quarterly Earnings Results

Waste Management (NYSE:WM) issued its quarterly earnings data 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. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Waste Management updated its FY 2024 guidance to EPS.

Waste Management Price Performance

Shares of NYSE WM opened at $219.11 on Wednesday. The stock has a market capitalization of $87.93 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Waste Management has a 52 week low of $161.60 and a 52 week high of $225.00. The firm has a 50-day simple moving average of $209.03 and a 200-day simple moving average of $208.67. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

WM has been the subject of a number of analyst reports. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada lowered their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Oppenheimer cut their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. BMO Capital Markets lowered their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Finally, William Blair assumed coverage on Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.89.

About Waste Management

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.