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

Waste Management (NYSE:WM) released its quarterly earnings data on Monday. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Waste Management updated its FY 2024 guidance to EPS.

Waste Management Stock Up 4.2 %

NYSE:WM traded up $8.83 during trading hours on Tuesday, hitting $217.09. 905,980 shares of the company’s stock traded hands, compared to its average volume of 1,610,360. The firm has a market cap of $87.12 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.29 and a beta of 0.74. Waste Management has a twelve month low of $161.60 and a twelve month high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock’s fifty day moving average price is $208.81 and its two-hundred day moving average price is $208.58.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 47.69%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WM shares. BMO Capital Markets reduced their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Robert W. Baird reduced their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Scotiabank started coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. Oppenheimer reduced their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, CIBC dropped their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.