Waste Management (NYSE:WM) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Waste Management (NYSE:WMGet Free Report) issued its quarterly earnings data on Wednesday. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09), Zacks reports. Waste Management had a return on equity of 38.88% and a net margin of 12.45%.

Waste Management Stock Down 0.6 %

NYSE:WM traded down $1.25 on Friday, hitting $221.18. The stock had a trading volume of 271,411 shares, compared to its average volume of 1,729,341. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management has a 52 week low of $184.72 and a 52 week high of $230.39. The business’s fifty day moving average is $212.28 and its 200 day moving average is $211.36. The company has a market cap of $88.77 billion, a PE ratio of 32.57, a P/E/G ratio of 2.20 and a beta of 0.77.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is 44.12%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Scotiabank raised Waste Management from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $225.00 to $250.00 in a research note on Monday. Morgan Stanley raised their price target on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial boosted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Argus raised their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Oppenheimer increased their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.83.

Check Out Our Latest Report on WM

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

About Waste Management

(Get Free Report)

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.

Further Reading

Earnings History for Waste Management (NYSE:WM)

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