Wall Street brokerages expect that Waste Management, Inc. (NYSE:WM) will post $4.53 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Waste Management’s earnings. The lowest sales estimate is $4.42 billion and the highest is $4.60 billion. Waste Management posted sales of $3.86 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.4%. The company is expected to issue its next earnings report on Monday, November 1st.
According to Zacks, analysts expect that Waste Management will report full-year sales of $17.63 billion for the current fiscal year, with estimates ranging from $17.59 billion to $17.77 billion. For the next year, analysts anticipate that the company will post sales of $18.43 billion, with estimates ranging from $17.94 billion to $18.77 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Waste Management.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.18 by $0.09. Waste Management had a return on equity of 26.32% and a net margin of 9.69%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year.
WM stock traded up $0.66 during midday trading on Friday, hitting $155.24. 13,981 shares of the company traded hands, compared to its average volume of 1,613,629. The business has a 50 day simple moving average of $149.50 and a 200-day simple moving average of $139.63. The stock has a market capitalization of $65.37 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 1.75. Waste Management has a twelve month low of $106.11 and a twelve month high of $156.74.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be given a $0.575 dividend. The ex-dividend date is Thursday, September 2nd. This represents a $2.30 annualized dividend and a yield of 1.48%. Waste Management’s dividend payout ratio (DPR) is currently 57.07%.
In other Waste Management news, CAO Leslie K. Nagy sold 269 shares of Waste Management stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $141.70, for a total transaction of $38,117.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Victoria M. Holt sold 604 shares of Waste Management stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $146.91, for a total value of $88,733.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,415 shares of company stock valued at $12,300,321. Company insiders own 0.16% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Parisi Gray Wealth Management acquired a new stake in Waste Management in the second quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Waste Management in the second quarter worth about $25,000. Twin Lakes Capital Management LLC acquired a new stake in Waste Management in the first quarter worth about $25,000. KB Financial Partners LLC acquired a new stake in Waste Management in the first quarter worth about $26,000. Finally, Godsey & Gibb Associates increased its position in Waste Management by 58.0% in the second quarter. Godsey & Gibb Associates now owns 237 shares of the business services provider’s stock worth $33,000 after purchasing an additional 87 shares during the period. 74.10% of the stock is owned by institutional investors and hedge funds.
About Waste Management
Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.
See Also: Hold Rating
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