What is William Blair’s Forecast for WM FY2024 Earnings?

Waste Management, Inc. (NYSE:WM) – Stock analysts at William Blair dropped their FY2024 earnings estimates for shares of Waste Management in a research note issued on Wednesday, October 30th. William Blair analyst T. Romeo now expects that the business services provider will post earnings of $7.15 per share for the year, down from their prior forecast of $7.25. William Blair has a “Outperform” rating on the stock. The consensus estimate for Waste Management’s current full-year earnings is $7.24 per share. William Blair also issued estimates for Waste Management’s Q4 2024 earnings at $1.82 EPS, Q1 2025 earnings at $1.89 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $2.09 EPS, Q4 2025 earnings at $2.06 EPS, FY2025 earnings at $8.03 EPS and FY2026 earnings at $8.95 EPS.

Waste Management (NYSE:WM) last issued its earnings results 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. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year.

A number of other equities research analysts have also recently issued reports on WM. BMO Capital Markets boosted their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday. Robert W. Baird decreased their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Morgan Stanley upped their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday. CIBC upped their price target on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.05.

Waste Management Trading Down 0.9 %

Shares of WM stock opened at $213.99 on Thursday. The company’s fifty day simple moving average is $209.34 and its two-hundred day simple moving average is $208.83. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 1.03. Waste Management has a 1 year low of $162.34 and a 1 year high of $225.00. The stock has a market capitalization of $85.89 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.30 and a beta of 0.74.

Institutional Trading of Waste Management

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in shares of Waste Management during the first quarter valued at approximately $300,594,000. Capital World Investors lifted its holdings in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Swedbank AB purchased a new position in shares of Waste Management during the first quarter valued at approximately $193,955,000. Finally, Wulff Hansen & CO. lifted its holdings in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s payout ratio is 45.87%.

Waste Management Company Profile

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.