What is Scotiabank’s Forecast for WM FY2024 Earnings?

Waste Management, Inc. (NYSE:WM) – Equities research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Waste Management in a note issued to investors on Wednesday, January 8th. Scotiabank analyst K. Gupta anticipates that the business services provider will post earnings per share of $7.38 for the year. Scotiabank has a “Sector Perform” rating and a $220.00 price target on the stock. The consensus estimate for Waste Management’s current full-year earnings is $7.32 per share. Scotiabank also issued estimates for Waste Management’s FY2025 earnings at $8.07 EPS and FY2026 earnings at $9.14 EPS.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share.

A number of other brokerages have also recently commented on WM. CIBC upped their price target on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Argus increased their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $230.72.

Waste Management Stock Performance

NYSE WM opened at $207.12 on Monday. Waste Management has a 1 year low of $180.17 and a 1 year high of $230.39. The company has a fifty day moving average price of $214.62 and a 200-day moving average price of $211.29. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market cap of $83.13 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.36 and a beta of 0.77.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Exeter Financial LLC increased its holdings in shares of Waste Management by 0.5% during the fourth quarter. Exeter Financial LLC now owns 18,323 shares of the business services provider’s stock valued at $3,697,000 after acquiring an additional 98 shares in the last quarter. Grandview Asset Management LLC increased its stake in Waste Management by 8.6% during the 4th quarter. Grandview Asset Management LLC now owns 14,332 shares of the business services provider’s stock valued at $2,892,000 after purchasing an additional 1,139 shares in the last quarter. Marcum Wealth LLC raised its holdings in shares of Waste Management by 6.8% in the fourth quarter. Marcum Wealth LLC now owns 1,874 shares of the business services provider’s stock worth $378,000 after buying an additional 120 shares during the last quarter. First Financial Corp IN grew its holdings in shares of Waste Management by 32.7% during the fourth quarter. First Financial Corp IN now owns 1,580 shares of the business services provider’s stock valued at $319,000 after buying an additional 389 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its position in shares of Waste Management by 2.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 21,662 shares of the business services provider’s stock valued at $4,371,000 after acquiring an additional 417 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

About Waste Management

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.