Waste Management (NYSE:WM) Stock Price Expected to Rise, CIBC Analyst Says

Waste Management (NYSE:WM) had its price target boosted by CIBC from $213.00 to $228.00 in a research note released on Wednesday, Benzinga reports. CIBC currently has a neutral rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the company. Oppenheimer upped their price objective on Waste Management from $224.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets boosted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Morgan Stanley lifted their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $226.05.

Waste Management Trading Down 0.9 %

NYSE:WM opened at $213.99 on Wednesday. Waste Management has a 52 week low of $162.34 and a 52 week high of $225.00. The firm has a 50-day moving average price of $209.34 and a two-hundred day moving average price of $208.85. The firm has a market cap of $85.89 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.03 and a current ratio of 0.89.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. On average, equities analysts expect that Waste Management will post 7.28 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Institutional Investors Weigh In On Waste Management

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in shares of Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares during the period. Capital World Investors grew its holdings in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the period. Legal & General Group Plc boosted its position in shares of Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC increased its position in Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Waste Management by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.