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

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

Waste Management Stock Performance

NYSE:WM opened at $214.95 on Thursday. The stock has a 50 day simple moving average of $209.14 and a 200 day simple moving average of $208.72. The stock has a market cap of $86.26 billion, a P/E ratio of 32.87, a PEG ratio of 2.29 and a beta of 0.74. Waste Management has a 1-year low of $162.03 and a 1-year high of $225.00. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. CIBC increased their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group increased their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday. Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird cut their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average 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.