Waste Management, Inc. (NYSE:WM – Get Rating) – Stock analysts at Oppenheimer decreased their FY2022 earnings estimates for Waste Management in a research report issued to clients and investors on Tuesday, January 17th. Oppenheimer analyst N. Kaye now anticipates that the business services provider will post earnings per share of $5.64 for the year, down from their previous estimate of $5.65. The consensus estimate for Waste Management’s current full-year earnings is $5.70 per share. Oppenheimer also issued estimates for Waste Management’s Q4 2022 earnings at $1.35 EPS, Q1 2023 earnings at $1.35 EPS, Q2 2023 earnings at $1.53 EPS, Q3 2023 earnings at $1.67 EPS, Q4 2023 earnings at $1.51 EPS and FY2024 earnings at $6.48 EPS.
Waste Management (NYSE:WM – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.06. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.06 billion. Waste Management had a net margin of 11.55% and a return on equity of 32.48%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share.
Waste Management Price Performance
WM stock opened at $150.90 on Wednesday. Waste Management has a 52-week low of $138.58 and a 52-week high of $175.98. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.81 and a current ratio of 0.85. The company has a fifty day moving average price of $160.53 and a 200-day moving average price of $162.34. The company has a market capitalization of $61.94 billion, a P/E ratio of 28.05, a PEG ratio of 1.98 and a beta of 0.73.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. purchased a new position in Waste Management in the second quarter valued at about $25,000. McClarren Financial Advisors Inc. purchased a new position in Waste Management in the third quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Waste Management in the second quarter valued at about $30,000. Twin Lakes Capital Management LLC bought a new stake in shares of Waste Management in the third quarter valued at approximately $31,000. Finally, TD Capital Management LLC bought a new stake in shares of Waste Management in the third quarter valued at approximately $33,000. 78.48% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Waste Management
In other news, Director John C. Pope sold 218 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $154.76, for a total transaction of $33,737.68. Following the completion of the sale, the director now directly owns 55,809 shares of the company’s stock, valued at $8,637,000.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.
Waste Management announced that its board has initiated a stock repurchase plan on Thursday, December 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Waste Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, December 1st. Waste Management’s payout ratio is presently 48.33%.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
- Get a free copy of the StockNews.com research report on Waste Management (WM)
- Procter & Gamble Earnings: A Gamble Worth Taking
- Stocks Slide, Economic Report Paints Gloomy Picture For Economy
- What does Nu Holdings Stock Have To Do With Warren Buffett?
- J.B. Hunt Gets A Flat, Logistic Companies Come Into Focus
- Is Intel Stock On The Verge Of Breaking Out?
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.