Waste Management (WM) Upgraded by ValuEngine to “Buy”

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Waste Management (NYSE:WM) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Tuesday, September 18th.

Several other brokerages have also issued reports on WM. BMO Capital Markets reiterated a “buy” rating and issued a $93.00 target price on shares of Waste Management in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $94.38.

Shares of Waste Management stock traded up $0.51 during trading on Tuesday, hitting $88.55. The stock had a trading volume of 2,724,035 shares, compared to its average volume of 2,093,874. Waste Management has a 12 month low of $76.54 and a 12 month high of $92.85. The stock has a market cap of $38.74 billion, a P/E ratio of 27.50, a PEG ratio of 1.86 and a beta of 0.70. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.72 and a current ratio of 0.75.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts predict that Waste Management will post 4.08 earnings per share for the current year.

In other news, Director Patrick W. Gross sold 406 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total transaction of $33,787.32. Following the completion of the transaction, the director now directly owns 24,149 shares of the company’s stock, valued at $2,009,679.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Several large investors have recently modified their holdings of WM. Neuberger Berman Group LLC raised its stake in shares of Waste Management by 42.6% during the first quarter. Neuberger Berman Group LLC now owns 66,515 shares of the business services provider’s stock valued at $5,689,000 after acquiring an additional 19,885 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in Waste Management by 6.9% in the first quarter. Cetera Advisor Networks LLC now owns 9,421 shares of the business services provider’s stock worth $792,000 after buying an additional 607 shares in the last quarter. Cetera Advisors LLC bought a new position in Waste Management in the first quarter worth about $1,355,000. Personal Capital Advisors Corp raised its stake in Waste Management by 22.6% in the first quarter. Personal Capital Advisors Corp now owns 240,180 shares of the business services provider’s stock worth $20,204,000 after buying an additional 44,284 shares in the last quarter. Finally, Chicago Capital LLC bought a new position in Waste Management in the first quarter worth about $555,000. 74.62% of the stock is owned by hedge funds and other institutional investors.

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 provides 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.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Waste Management (NYSE:WM)

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