JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price target raised by JPMorgan Chase & Co. from $213.00 to $219.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 0.69% from the stock’s current price.

A number of other equities research analysts also recently issued reports on WM. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Truist Financial decreased their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. CIBC cut their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Robert W. Baird reduced their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.83.

Waste Management Stock Down 0.7 %

NYSE:WM traded down $1.60 during trading hours on Wednesday, reaching $217.51. 526,184 shares of the company traded hands, compared to its average volume of 1,616,270. The stock has a market capitalization of $87.29 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.29 and a beta of 0.74. The business’s 50-day moving average price is $209.03 and its two-hundred day moving average price is $208.67. Waste Management has a 1 year low of $162.03 and a 1 year high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Analysts predict that Waste Management will post 7.24 earnings per share for the current year.

Hedge Funds Weigh In On Waste Management

Institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC increased 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 worth $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the second quarter worth approximately $31,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Waste Management in the 2nd quarter valued at $39,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.