JPMorgan Chase & Co. Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its target price boosted by analysts at JPMorgan Chase & Co. from $235.00 to $260.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.71% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Raymond James Financial set a $251.00 price objective on Waste Management in a research note on Thursday. Citigroup upped their target price on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wolfe Research assumed coverage on shares of Waste Management in a report on Tuesday, September 15th. They issued a “peer perform” rating on the stock. Morgan Stanley decreased their price target on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Finally, UBS Group reiterated an “outperform” rating on shares of Waste Management in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.37.

Waste Management Stock Up 2.5%

Shares of NYSE:WM traded up $5.53 during trading on Thursday, hitting $230.68. The company’s stock had a trading volume of 2,800,920 shares, compared to its average volume of 2,208,013. Waste Management has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The business has a 50 day moving average price of $217.58 and a two-hundred day moving average price of $225.01. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $92.21 billion, a PE ratio of 32.67, a P/E/G ratio of 3.06 and a beta of 0.42.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, October 27th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.03). The company had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.81 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 earnings per share. As a group, research analysts expect that Waste Management will post 8.09 EPS for the current fiscal year.

Insider Activity at Waste Management

In other news, CAO John Carroll sold 1,365 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the transaction, the chief accounting officer owned 3,509 shares in the company, valued at approximately $771,629.10. This represents a 28.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

Several hedge funds have recently added to or reduced their stakes in the stock. True Freedom Investing LLC lifted its position in Waste Management by 9.2% in the third quarter. True Freedom Investing LLC now owns 26,743 shares of the business services provider’s stock valued at $5,454,000 after acquiring an additional 2,249 shares during the last quarter. Pinkerton Wealth LLC grew its holdings in shares of Waste Management by 8.0% during the third quarter. Pinkerton Wealth LLC now owns 27,214 shares of the business services provider’s stock worth $5,550,000 after purchasing an additional 2,006 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Waste Management during the third quarter worth about $19,005,000. ProShare Advisors LLC increased its position in shares of Waste Management by 1.7% during the third quarter. ProShare Advisors LLC now owns 57,518 shares of the business services provider’s stock worth $11,729,000 after purchasing an additional 946 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its holdings in shares of Waste Management by 4.4% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 1,642 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 69 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: WM reported third-quarter revenue of $6.85 billion, above the $6.81 billion consensus estimate and up 6.3% year over year. Management also expects full-year revenue and free cash flow toward the high ends of its guidance ranges. Waste Management: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The healthcare business remains a key growth driver, with operating EBITDA increasing 33% year over year. Nine-month free cash flow also jumped more than 42%, supporting the company’s financial outlook. WM Q3 Earnings Call Highlights Healthcare Gains and Volume Pressure
• Neutral Sentiment: Analyst views are divided. Barclays raised its price target to $283 and kept an “overweight” rating, while BNP Paribas Exane lowered its target to $245 and maintained a “neutral” rating, indicating limited upside from its revised valuation. Barclays Waste Management ratings
• Negative Sentiment: Adjusted earnings of $2.15 per share missed the $2.18 consensus estimate. Higher fuel and risk-management costs pressured margins, while slowing waste volumes remain a concern for operating performance. WM Q3 Earnings Miss Estimates, Revenues Increase 6.3% Year Over Year

Waste Management Company Profile

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.