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

Waste Management (NYSE:WM) issued its earnings results on Monday. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s quarterly revenue 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 WM traded up $8.83 during mid-day trading on Tuesday, reaching $217.09. The company had a trading volume of 905,980 shares, compared to its average volume of 1,610,360. Waste Management has a twelve month low of $161.60 and a twelve month high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company’s 50-day moving average is $208.81 and its 200-day moving average is $208.58. The company has a market capitalization of $87.12 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.29 and a beta of 0.74.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.38%. Waste Management’s dividend payout ratio (DPR) is 47.69%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird lowered their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. CIBC lowered their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer lowered their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Royal Bank of Canada lowered their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Company Profile

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.