Waste Management, Inc. (NYSE:WM) to Issue $0.75 Quarterly Dividend

Waste Management, Inc. (NYSE:WMGet Free Report) announced a quarterly dividend on Monday, May 13th, RTT News reports. Investors of record on Friday, June 7th will be paid a dividend of 0.75 per share by the business services provider on Friday, June 21st. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, June 7th.

Waste Management has increased its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Waste Management has a payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Waste Management to earn $8.00 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 37.5%.

Waste Management Price Performance

Shares of NYSE WM opened at $203.85 on Thursday. The stock has a market capitalization of $81.76 billion, a PE ratio of 33.36, a P/E/G ratio of 2.51 and a beta of 0.74. Waste Management has a fifty-two week low of $149.71 and a fifty-two week high of $214.54. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The business has a fifty day moving average price of $208.46 and a two-hundred day moving average price of $195.76.

Waste Management (NYSE:WMGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Waste Management will post 7.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WM shares. Jefferies Financial Group boosted their price objective 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. Oppenheimer boosted their price target on Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Citigroup raised their price objective on Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. BMO Capital Markets boosted their target price on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Robert W. Baird raised their price target on shares of Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

Check Out Our Latest Research Report on WM

About Waste Management

(Get Free Report)

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.

See Also

Dividend History for Waste Management (NYSE:WM)

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