Waste Management (NYSE:WM) Announces Quarterly Earnings Results

Waste Management (NYSE:WM) issued its quarterly earnings data on Monday. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.51 billion. During the same quarter in the previous 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. Waste Management updated its FY 2024 guidance to EPS.

Waste Management Price Performance

Shares of NYSE WM opened at $219.11 on Wednesday. The firm has a market cap of $87.93 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management has a 1-year low of $161.60 and a 1-year high of $225.00. The business’s 50 day moving average is $209.03 and its 200-day moving average is $208.67.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 1.37%. Waste Management’s dividend payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WM shares. Truist Financial cut their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. William Blair initiated coverage on Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

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.