Trade Report: The Oppenheimer Holdings Weighs in on Waste Management Inc.’s Q4 2016 Earnings (WM)

The Oppenheimer Holdings Weighs in on Waste Management Inc.’s Q4 2016 Earnings (WM)

Waste Management Inc. (NYSE:WM) – Stock analysts at Oppenheimer Holdings raised their Q4 2016 EPS estimates for Waste Management in a research report issued on Wednesday. Oppenheimer Holdings analyst N. Kaye now forecasts that the brokerage will post earnings per share of $0.78 for the quarter, up from their previous estimate of $0.75.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. Waste Management had a return on equity of 24.07% and a net margin of 8.36%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis.

WM has been the topic of several other research reports. Imperial Capital upped their price objective on shares of Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a research note on Friday, July 29th. Barclays PLC lowered shares of Waste Management from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $66.00 to $70.00 in a research note on Tuesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Waste Management in a research note on Monday, July 18th. Argus reiterated a “buy” rating and issued a $72.00 price objective on shares of Waste Management in a research note on Wednesday, August 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Waste Management in a research note on Thursday, July 14th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $66.77.

Waste Management (NYSE:WM) opened at 63.98 on Monday. The stock has a market cap of $28.28 billion, a price-to-earnings ratio of 25.67 and a beta of 0.62. The company has a 50-day moving average price of $62.97 and a 200 day moving average price of $63.11. Waste Management has a 12-month low of $50.36 and a 12-month high of $70.50.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nikko Asset Management Americas Inc. bought a new position in Waste Management during the third quarter valued at approximately $236,000. Savant Capital LLC boosted its position in Waste Management by 187.7% in the third quarter. Savant Capital LLC now owns 34,469 shares of the company’s stock valued at $2,198,000 after buying an additional 22,488 shares during the last quarter. Scott & Selber Inc. boosted its position in Waste Management by 0.6% in the third quarter. Scott & Selber Inc. now owns 43,458 shares of the company’s stock valued at $2,771,000 after buying an additional 247 shares during the last quarter. Synovus Financial Corp boosted its position in Waste Management by 2.0% in the third quarter. Synovus Financial Corp now owns 142,225 shares of the company’s stock valued at $9,069,000 after buying an additional 2,818 shares during the last quarter. Finally, World Asset Management Inc boosted its position in Waste Management by 0.7% in the third quarter. World Asset Management Inc now owns 42,692 shares of the company’s stock valued at $2,722,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.

In related news, CFO James C. Fish, Jr. sold 7,400 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $66.59, for a total transaction of $492,766.00. Following the completion of the transaction, the chief financial officer now directly owns 99,615 shares in the company, valued at approximately $6,633,362.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark E. Schwartz sold 70,496 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $65.89, for a total transaction of $4,644,981.44. Following the transaction, the vice president now owns 67,117 shares of the company’s stock, valued at $4,422,339.13. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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