Trading Report: The Wedbush Comments on Waste Management Inc.’s FY2016 Earnings (WM)

The Wedbush Comments on Waste Management Inc.’s FY2016 Earnings (WM)

Waste Management Inc. (NYSE:WM) – Research analysts at Wedbush boosted their FY2016 earnings per share estimates for shares of Waste Management in a research note issued to investors on Thursday. Wedbush analyst A. Kaschalk now anticipates that the brokerage will earn $2.92 per share for the year, up from their previous estimate of $2.86. Wedbush has a “Neutral” rating and a $68.00 price target on the stock. Wedbush also issued estimates for Waste Management’s Q4 2016 earnings at $0.93 EPS, Q2 2017 earnings at $0.77 EPS, FY2017 earnings at $3.18 EPS, Q3 2018 earnings at $0.96 EPS, FY2019 earnings at $3.66 EPS and FY2020 earnings at $3.85 EPS.

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

Several other brokerages have also weighed in on WM. KeyCorp reaffirmed a “hold” rating on shares of Waste Management in a research report on Thursday, July 14th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price objective (up previously from $70.00) on shares of Waste Management in a report on Monday, July 18th. Imperial Capital increased their price objective on Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a report on Friday, July 29th. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Argus reissued a “buy” rating and set a $72.00 price objective on shares of Waste Management in a report on Wednesday, August 10th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Waste Management presently has an average rating of “Hold” and a consensus target price of $66.77.

Waste Management (NYSE:WM) opened at 63.98 on Monday. Waste Management has a 1-year low of $50.36 and a 1-year high of $70.50. The stock has a market capitalization of $28.28 billion, a PE ratio of 25.67 and a beta of 0.62. The company’s 50-day moving average is $62.97 and its 200 day moving average is $63.11.

In related news, CFO James C. Fish, Jr. sold 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was 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 owns 99,615 shares in the company, valued at approximately $6,633,362.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Morris sold 12,738 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $66.75, for a total value of $850,261.50. Following the transaction, the senior vice president now owns 29,696 shares of the company’s stock, valued at approximately $1,982,208. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Waste Management by 3.0% in the second quarter. Vanguard Group Inc. now owns 29,578,946 shares of the company’s stock valued at $1,960,198,000 after buying an additional 872,058 shares during the period. Capital International Investors increased its position in Waste Management by 8.2% in the second quarter. Capital International Investors now owns 13,209,100 shares of the company’s stock valued at $875,367,000 after buying an additional 1,003,000 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Waste Management by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 12,289,093 shares of the company’s stock valued at $814,398,000 after buying an additional 91,091 shares during the period. BlackRock Fund Advisors increased its position in Waste Management by 11.0% in the second quarter. BlackRock Fund Advisors now owns 10,269,777 shares of the company’s stock valued at $680,578,000 after buying an additional 1,021,512 shares during the period. Finally, Wellington Management Group LLP increased its position in Waste Management by 2.7% in the first quarter. Wellington Management Group LLP now owns 7,836,448 shares of the company’s stock valued at $462,350,000 after buying an additional 203,375 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

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