Oppenheimer Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its target price boosted by Oppenheimer from $224.00 to $230.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Robert W. Baird reduced their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Finally, CIBC reduced their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.28.

Waste Management Price Performance

NYSE:WM opened at $214.95 on Wednesday. The firm has a market cap of $86.26 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Waste Management has a 12 month low of $162.03 and a 12 month high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company’s 50-day moving average price is $209.14 and its two-hundred day moving average price is $208.72.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities analysts anticipate that Waste Management will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Institutional Investors Weigh In On Waste Management

Several large investors have recently bought and sold shares of the company. Trium Capital LLP increased its position in shares of Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after acquiring an additional 5,367 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its position in shares of Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after acquiring an additional 3,145 shares in the last quarter. Norden Group LLC bought a new stake in shares of Waste Management during the first quarter worth $7,146,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Waste Management by 417.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after purchasing an additional 2,800 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

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.