What is Scotiabank's Forecast for WM FY2024 Earnings?

Waste Management, Inc. (NYSE:WM - Free Report) - Equities researchers at Scotiabank issued their FY2024 EPS estimates for shares of Waste Management in a note issued to investors on Wednesday, January 8th. Scotiabank analyst K. Gupta forecasts that the business services provider will post earnings of $7.38 per share for the year. Scotiabank currently 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 - Get Free Report) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 EPS.

A number of other equities research analysts have also commented on WM. Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. UBS Group increased their target price on shares of Waste Management from $220.00 to $226.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Waste Management from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 4th. Oppenheimer increased their price objective on shares of Waste Management from $230.00 to $231.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, 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, October 30th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average price target of $230.72.

Waste Management Stock Performance

NYSE WM opened at $207.02 on Monday. The company has a market capitalization of $83.09 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.36 and a beta of 0.77. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management has a twelve month low of $177.83 and a twelve month high of $230.39. The stock has a fifty day simple moving average of $214.76 and a 200 day simple moving average of $211.33.

Institutional Investors Weigh In On Waste Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in Waste Management by 24.2% during the second quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider's stock worth $14,427,000 after purchasing an additional 13,193 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Waste Management by 0.9% in the second quarter. Federated Hermes Inc. now owns 47,596 shares of the business services provider's stock valued at $10,154,000 after acquiring an additional 431 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in Waste Management by 50.9% during the second quarter. Thoroughbred Financial Services LLC now owns 9,373 shares of the business services provider's stock worth $1,999,000 after acquiring an additional 3,162 shares during the period. Wealthspire Advisors LLC boosted its position in Waste Management by 11.3% in the second quarter. Wealthspire Advisors LLC now owns 6,174 shares of the business services provider's stock worth $1,317,000 after purchasing an additional 628 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Waste Management by 4.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,266 shares of the business services provider's stock valued at $1,763,000 after purchasing an additional 358 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company's stock.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.45%. Waste Management's payout ratio is 45.87%.

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.