Q2 2024 Earnings Forecast for Waste Management, Inc. (NYSE:WM) Issued By Zacks Research

Waste Management, Inc. (NYSE:WMFree Report) – Research analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Waste Management in a research note issued on Monday, May 13th. Zacks Research analyst R. Department now expects that the business services provider will post earnings per share of $1.80 for the quarter, up from their previous forecast of $1.72. The consensus estimate for Waste Management’s current full-year earnings is $7.26 per share. Zacks Research also issued estimates for Waste Management’s Q3 2024 earnings at $1.87 EPS, FY2024 earnings at $7.22 EPS, Q2 2025 earnings at $2.02 EPS, Q4 2025 earnings at $1.91 EPS, FY2025 earnings at $7.69 EPS, Q1 2026 earnings at $2.07 EPS and FY2026 earnings at $8.80 EPS.

Waste Management (NYSE:WMGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 5.5% on a year-over-year basis.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial lifted their target price on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup increased their price target on Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. BMO Capital Markets lifted their price objective on shares of Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, Jefferies Financial Group raised their price target on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $216.24.

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Waste Management Trading Down 0.3 %

Shares of Waste Management stock opened at $210.82 on Tuesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management has a 52 week low of $149.71 and a 52 week high of $214.54. The stock has a 50 day moving average price of $209.30 and a two-hundred day moving average price of $190.91. The stock has a market capitalization of $84.56 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. Waste Management’s payout ratio is 49.10%.

Insider Transactions at Waste Management

In other news, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the transaction, the executive vice president now directly owns 29,677 shares in the company, valued at approximately $6,217,331.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tara J. Hemmer sold 1,782 shares of Waste Management stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total value of $363,937.86. Following the sale, the senior vice president now owns 55,591 shares of the company’s stock, valued at approximately $11,353,349.93. The disclosure for this sale can be found here. Insiders sold 18,007 shares of company stock valued at $3,696,520 over the last three months. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Hedge funds have recently made changes to their positions in the stock. McClarren Financial Advisors Inc. increased its position in Waste Management by 29.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 49 shares during the period. Mayflower Financial Advisors LLC grew its holdings in shares of Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after acquiring an additional 50 shares during the period. McAdam LLC raised its position in shares of Waste Management by 4.0% in the 1st quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock worth $281,000 after acquiring an additional 51 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Waste Management by 4.4% in the 1st quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 52 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Waste Management by 2.7% during the first quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 53 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Company Profile

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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.

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Earnings History and Estimates for Waste Management (NYSE:WM)

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