According to a recent report by Bloomberg, Waste Management, Inc. (NYSE:WM) has received a moderate buy rating from eleven analysts who cover the stock. Out of these analysts, four have given a hold rating while seven have given a buy rating to the company. The average 12-month price target among brokers who have issued reports on the stock in the past year stands at $180.25.
In recent news related to Waste Management, Director Bruce E. Chinn made a sale of 172 shares of Waste Management stock on Tuesday, August 15th. The transaction was completed at an average price of $159.44, resulting in a total transaction value of $27,423.68. After the sale, Chinn now holds 822 shares of the company’s stock directly, with an approximate value of $131,059.68. This sale was disclosed in a document filed with the Securities & Exchange Commission and can be accessed through the provided link.
Another director of Waste Management, John C. Pope, sold 198 shares of the company’s stock on Monday, July 17th at an average price of $168.40, totaling $33,343.20 in transaction value. Following this sale, Pope now owns 56,147 shares in the company valued at approximately $9,455,154.80. This transaction was also disclosed in a legal filing with the Securities & Exchange Commission.
Moreover, there was another instance where Director Bruce E. Chinn sold 172 shares of Waste Management stock on Tuesday, August 15th at an average price of $159.44 for a total value of $27,423.68. As a result of this sale, Chinn now possesses 822 shares in the company worth around $131,059.68.
It is worth noting that approximately 0.27% of Waste Management’s stock is owned by insiders within the company.
On July 25th, Waste Management announced its earnings results for the last quarter. The business services provider reported an earnings per share (EPS) of $1.51, slightly below the consensus estimate of $1.54 by ($0.03). The company recorded a net margin of 11.42% and a return on equity of 33.81%. Waste Management’s quarterly revenue was $5.12 billion, falling short of analyst expectations of $5.23 billion. However, there was a 1.8% increase in quarterly revenue compared to the same period last year.
Industry analysts predict that Waste Management will post an earnings per share of 5.96 for the current fiscal year.
This information highlights important updates regarding Waste Management and provides insight into the opinions and actions of industry experts and insiders related to the company’s stock performance and financial status.
Mixed Reviews and Investor Activity Surrounding Waste Management
On October 2, 2023, Waste Management, a renowned company in the business services sector, received mixed reviews from analysts. BMO Capital Markets, for instance, decreased their target price on Waste Management from $167.00 to $166.00 in a research note dated Thursday, July 27th. StockNews.com started covering Waste Management on Thursday, August 17th and bestowed a “buy” rating upon the company. Conversely, Citigroup reduced their target price from $204.00 to $202.00 on Waste Management in a report published on July 27th.
Along similar lines, Raymond James also lowered their target price from $185.00 to $179.00 and bestowed an “outperform” rating on Waste Management in their report of July 27th. Finally, HSBC initiated coverage of Waste Management on Friday, September 15th with a “buy” rating and a target price set at $192.00.
In terms of institutional investors’ activity surrounding the stock of Waste Management, several have recently either increased or reduced their stakes in the company. Spirit of America Management Corp NY acquired new shares during the second quarter worth approximately $26,000 while Mizuho Securities Co. Ltd also bought new shares during the same period worth around $28,000.
Strategic Investment Solutions Inc., IL purchased a stake worth about $29,000 during the first quarter while Ten Capital Wealth Advisors LLC boosted its stake by an impressive 1,106.7% during the same period – they now own 181 shares valued at approximately $30,000.
Additionally, Steward Financial Group LLC purchased new shares valued at about $31,000 during the fourth quarter. It is worth noting that institutional investors and hedge funds currently hold approximately 78.34% of all outstanding shares in Waste Management.
Turning our attention towards market trading activity surrounding the stock of Waste Management as per the NYSE:WM symbol, it opened at $152.44 on Monday. The company’s 50-day moving average is $159.49, while its 200-day moving average stands at $162.87.
Over the past year, Waste Management has seen a low of $148.31 and a high of $173.71 in terms of stock prices. At present, the firm boasts a market capitalization totaling $61.75 billion, with a price-to-earnings (P/E) ratio standing at 27.42 and a price/earnings-to-growth (PEG) ratio of 2.59.
Furthermore, Waste Management has a beta value of 0.72, indicating that its stock exhibits less volatility compared to the overall market trend. The firm currently maintains an acceptable debt-to-equity ratio of 2.14 as well as strong liquidity ratios with a current ratio of 0.82 and a quick ratio of 0.78.
In conclusion, analyzed from various aspects within the financial industry, Waste Management has garnered attention from market analysts who have expressed both positive and negative sentiments towards the company’s performance and future outlook in their respective reports.
Investors should weigh these factors carefully before making any investment decisions relating to Waste Management’s stock in order to align them with their individual investment goals and risk tolerance levels.