Citigroup Boosts Waste Management (NYSE:WM) Price Target to $270.00

Waste Management (NYSE:WM) had its target price hoisted by analysts at Citigroup from $268.00 to $270.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Citigroup’s price objective suggests a potential upside of 34.59% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. Truist Financial set a $260.00 price target on shares of Waste Management in a research note on Wednesday. Erste Group Bank cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. UBS Group decreased their price target on shares of Waste Management from $265.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Finally, Stifel Nicolaus decreased their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $249.44.

Waste Management Stock Up 1.6%

WM opened at $200.61 on Wednesday. The stock has a market cap of $80.81 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. Waste Management has a fifty-two week low of $197.02 and a fifty-two week high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84. The firm’s fifty day moving average is $217.96 and its 200 day moving average is $226.54.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Management will post 7.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waste Management

Hedge funds have recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its holdings in Waste Management by 3.1% during the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after purchasing an additional 1,698 shares during the last quarter. GPM Growth Investors Inc. grew its holdings in Waste Management by 50.6% during the 2nd quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after purchasing an additional 5,588 shares during the last quarter. Zevenbergen Capital Investments LLC grew its holdings in Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after purchasing an additional 2,200 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Waste Management during the 2nd quarter valued at about $6,865,000. Finally, Brighton Jones LLC grew its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. 80.40% of the stock is currently owned by 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.