Waste Management (NYSE:WM) Stock Price Target Raised at Royal Bank Of Canada

Waste Management (NYSE:WM) had its price target increased by equities research analysts at Royal Bank Of Canada from $244.00 to $247.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 7.08% from the company’s current price.

Several other brokerages have also commented on WM. Jefferies Financial Group restated a “buy” rating and issued a $267.00 price objective on shares of Waste Management in a report on Thursday. TD Cowen reissued a “buy” rating on shares of Waste Management in a research report on Thursday. BNP Paribas Exane dropped their price target on shares of Waste Management from $248.00 to $245.00 and set a “neutral” rating on the stock in a research note on Thursday. Canadian Imperial Bank of Commerce cut their price target on Waste Management from $250.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, Weiss Ratings raised Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.05.

Waste Management Price Performance

WM traded up $5.53 during trading on Thursday, reaching $230.68. The company’s stock had a trading volume of 2,800,731 shares, compared to its average volume of 2,208,013. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The firm has a fifty day simple moving average of $217.58 and a two-hundred day simple moving average of $225.01. The company has a market cap of $92.21 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 3.06 and a beta of 0.42. Waste Management has a 1 year low of $194.11 and a 1 year high of $248.13.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, October 27th. The business services provider reported $2.15 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%. Waste Management’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 EPS. As a group, analysts anticipate that Waste Management will post 8.09 EPS for the current year.

Insider Activity at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the sale, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at approximately $771,629.10. This represents a 28.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waste Management

Institutional investors have recently made changes to their positions in the stock. Physician Wealth Advisors Inc. grew its stake in shares of Waste Management by 10.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock valued at $111,000 after buying an additional 45 shares in the last quarter. Cornerstone Advisory LLC raised its position in Waste Management by 1.6% during the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 46 shares in the last quarter. Magnus Financial Group LLC raised its position in Waste Management by 0.9% during the third quarter. Magnus Financial Group LLC now owns 5,267 shares of the business services provider’s stock valued at $1,074,000 after acquiring an additional 46 shares in the last quarter. Sound Income Strategies LLC grew its position in Waste Management by 7.2% in the first quarter. Sound Income Strategies LLC now owns 713 shares of the business services provider’s stock worth $165,000 after acquiring an additional 48 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in shares of Waste Management by 3.4% during the 2nd quarter. Rockland Trust Co. now owns 1,493 shares of the business services provider’s stock worth $333,000 after purchasing an additional 49 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management News Summary

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

About Waste Management

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.