CIBC Lowers Waste Management (NYSE:WM) Price Target to $231.00

Waste Management (NYSE:WM) had its target price cut by equities research analysts at CIBC from $235.00 to $231.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s price objective would suggest a potential upside of 15.15% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Raymond James Financial increased their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Royal Bank Of Canada lowered their price target on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a report on Wednesday. Stifel Nicolaus lowered their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a report on Wednesday. National Bankshares decreased their price objective on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold 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 $249.44.

Waste Management Stock Up 1.6%

NYSE:WM opened at $200.61 on Wednesday. The company’s fifty day moving average price is $217.96 and its 200-day moving average price is $226.54. Waste Management has a 1-year low of $197.02 and a 1-year high of $242.58. The firm has a market capitalization of $80.81 billion, a P/E ratio of 31.59, a PEG ratio of 2.51 and a beta of 0.64. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the company posted $1.96 earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Waste Management will post 7.7 EPS for the current year.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently modified their holdings of WM. Brighton Jones LLC lifted its stake in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares in the last quarter. Sprott Inc. acquired a new stake in Waste Management during the first quarter worth about $325,000. Golden State Wealth Management LLC increased its position in Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider’s stock worth $183,000 after purchasing an additional 232 shares during the last quarter. Mather Group LLC. increased its position in Waste Management by 23.8% during the first quarter. Mather Group LLC. now owns 1,295 shares of the business services provider’s stock worth $300,000 after purchasing an additional 249 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Waste Management by 4.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,454 shares of the business services provider’s stock worth $13,764,000 after purchasing an additional 2,554 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.