What is Scotiabank’s Forecast for WM FY2024 Earnings?

Waste Management, Inc. (NYSE:WM) – Equities research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Waste Management in a note issued to investors on Wednesday, January 8th. Scotiabank analyst K. Gupta forecasts that the business services provider will post earnings per share of $7.38 for the year. Scotiabank has a “Sector Perform” rating and a $220.00 price target on the stock. The consensus estimate for Waste Management’s current full-year earnings is $7.32 per share. Scotiabank also issued estimates for Waste Management’s FY2025 earnings at $8.07 EPS and FY2026 earnings at $9.14 EPS.

WM has been the topic of a number of other reports. Argus raised their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer lifted their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 4th. Finally, Morgan Stanley raised their target price on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Trading Up 0.2 %

Shares of NYSE WM opened at $207.02 on Monday. Waste Management has a 12-month low of $177.83 and a 12-month high of $230.39. The company has a market cap of $83.09 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock’s 50 day simple moving average is $214.76 and its 200 day simple moving average is $211.33.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’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 completion of the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waste Management

Several hedge funds have recently made changes to their positions in WM. Graypoint LLC grew its stake in Waste Management by 1.2% during the 4th quarter. Graypoint LLC now owns 6,782 shares of the business services provider’s stock valued at $1,369,000 after acquiring an additional 83 shares in the last quarter. RMR Wealth Builders boosted its holdings in shares of Waste Management by 12.6% during the fourth quarter. RMR Wealth Builders now owns 8,809 shares of the business services provider’s stock worth $1,778,000 after purchasing an additional 984 shares during the period. LVM Capital Management Ltd. MI increased its stake in Waste Management by 0.5% in the 4th quarter. LVM Capital Management Ltd. MI now owns 30,758 shares of the business services provider’s stock valued at $6,207,000 after buying an additional 168 shares during the period. ST Germain D J Co. Inc. lifted its position in Waste Management by 22.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,217 shares of the business services provider’s stock worth $447,000 after buying an additional 400 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of Waste Management by 9.3% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,384 shares of the business services provider’s stock valued at $683,000 after buying an additional 289 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.