Waste Management, Inc. (NYSE:WM) – Stock analysts at KeyCorp lifted their Q3 2017 earnings per share (EPS) estimates for shares of Waste Management in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Box now forecasts that the business services provider will post earnings of $0.90 per share for the quarter, up from their previous forecast of $0.89. KeyCorp has a “Overweight” rating and a $65.00 price target on the stock. KeyCorp also issued estimates for Waste Management’s Q4 2017 earnings at $0.84 EPS, FY2017 earnings at $3.21 EPS, Q1 2018 earnings at $0.70 EPS, Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $0.90 EPS and FY2018 earnings at $3.45 EPS.
WM has been the subject of several other reports. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Oppenheimer Holdings, Inc. lifted their price target on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $74.94.
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Shares of Waste Management (NYSE:WM) opened at 74.80 on Friday. The company has a 50-day moving average price of $74.00 and a 200-day moving average price of $72.48. Waste Management has a 12 month low of $61.08 and a 12 month high of $76.00. The firm has a market cap of $33.06 billion, a price-to-earnings ratio of 27.29 and a beta of 0.71.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.81. Waste Management had a return on equity of 25.03% and a net margin of 9.18%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the firm earned $0.74 EPS. Waste Management’s revenue for the quarter was up 7.4% compared to the same quarter last year.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock valued at $2,199,436,000 after buying an additional 29,049,915 shares during the period. Renaissance Technologies LLC raised its stake in shares of Waste Management by 95.0% in the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock valued at $281,274,000 after buying an additional 1,879,300 shares during the period. Vanguard Group Inc. raised its stake in shares of Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after buying an additional 1,790,546 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of Waste Management by 8,786.6% in the second quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock valued at $12,314,000 after buying an additional 893,068 shares during the period. Finally, Janus Capital Management LLC raised its stake in shares of Waste Management by 34.1% in the first quarter. Janus Capital Management LLC now owns 3,449,747 shares of the business services provider’s stock valued at $251,556,000 after buying an additional 876,766 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.
In other Waste Management news, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the sale, the chief executive officer now owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Pope sold 453 shares of Waste Management stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Insiders have sold 7,940 shares of company stock valued at $575,603 in the last three months. 0.19% of the stock is owned by corporate insiders.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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