JPMorgan Chase & Co. Lowers Waste Management (NYSE:WM) Price Target to $255.00

Waste Management (NYSE:WM) had its target price decreased by analysts at JPMorgan Chase & Co. from $277.00 to $255.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 27.11% from the stock’s previous close.

Several other equities research analysts also recently weighed in on WM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. Truist Financial set a $260.00 price objective on shares of Waste Management in a report on Wednesday. Citigroup reduced their price objective on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. Finally, UBS Group reduced their price objective on shares of Waste Management from $265.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.44.

Waste Management Trading Up 1.6%

WM opened at $200.61 on Wednesday. Waste Management has a 1-year low of $197.02 and a 1-year high of $242.58. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. The company has a market cap of $80.81 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. The company has a fifty day moving average price of $217.96 and a two-hundred day moving average price of $226.54.

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

Institutional Inflows and Outflows

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

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.