Waste Management (NYSE:WM) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Waste Management (NYSE:WM) posted its quarterly earnings data on Monday. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07, Briefing.com reports. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company posted $1.63 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Waste Management updated its FY 2024 guidance to EPS.

Waste Management Stock Performance

Waste Management stock traded down $4.16 during trading on Wednesday, hitting $214.95. The stock had a trading volume of 1,720,735 shares, compared to its average volume of 1,621,957. Waste Management has a 1 year low of $162.03 and a 1 year high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock’s 50 day moving average is $209.03 and its two-hundred day moving average is $208.67. The stock has a market cap of $86.26 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s payout ratio is 47.69%.

Analysts Set New Price Targets

WM has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Scotiabank initiated coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Royal Bank of Canada boosted their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Truist Financial boosted their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.28.

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.