Waste Management (NYSE:WM) Stock Price Expected to Rise, Argus Analyst Says

Waste Management (NYSE:WM) had its price objective boosted by Argus from $230.00 to $240.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Argus’ price target would suggest a potential upside of 12.15% from the stock’s current price.

A number of other brokerages have also issued reports on WM. Oppenheimer increased their price objective on Waste Management from $224.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets upped their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday. UBS Group upped their target price on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Truist Financial upped their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.05.

Waste Management Stock Down 0.9 %

NYSE:WM opened at $213.99 on Thursday. The firm has a market capitalization of $85.89 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The stock has a 50 day moving average of $209.34 and a 200-day moving average of $208.83. Waste Management has a 52 week low of $162.34 and a 52 week high of $225.00. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts predict that Waste Management will post 7.24 EPS for the current year.

Hedge Funds Weigh In On Waste Management

Several institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter worth about $31,000. Fairway Wealth LLC increased its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management in the second quarter worth about $36,000. Fairscale Capital LLC bought a new position in shares of Waste Management in the second quarter worth about $39,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Waste Management by 67.2% in the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after purchasing an additional 80 shares during the period. 80.40% of the stock is currently owned by institutional investors.

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.