Waste Management, Inc. (WM) To Go Ex-Dividend on June 7th

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

Waste Management has increased its dividend by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 21 years. Waste Management has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Waste Management to earn $7.99 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 Trading Up 1.2 %

Shares of NYSE:WM opened at $203.65 on Wednesday. The stock’s 50-day simple moving average is $208.66 and its two-hundred day simple moving average is $195.70. The stock has a market capitalization of $81.68 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.48 and a beta of 0.74. Waste Management has a 52-week low of $149.71 and a 52-week high of $214.54. 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 (NYSE:WMGet Free Report) last announced its 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. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. Analysts expect that Waste Management will post 7.3 EPS for the current year.

Wall Street Analyst Weigh In

WM has been the topic of several analyst reports. Citigroup lifted their price target on shares of Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, February 15th. HSBC cut Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target on the stock. in a report on Thursday, February 15th. JPMorgan Chase & Co. lifted their target price on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. TD Cowen upped their target price on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Oppenheimer boosted their price target on shares of Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.61.

View Our Latest Stock 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.

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Dividend History for Waste Management (NYSE:WM)

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