Waste Management (NYSE:WM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Waste Management (NYSE:WM) had its price target upped by JPMorgan Chase & Co. from $213.00 to $219.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 0.69% from the company’s current price.

A number of other brokerages have also weighed in on WM. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird decreased their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada reduced their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. CIBC decreased their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, UBS Group upped their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $222.83.

Waste Management Stock Performance

Shares of NYSE:WM traded down $1.60 during trading on Wednesday, reaching $217.51. The stock had a trading volume of 526,184 shares, compared to its average volume of 1,616,270. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a fifty day simple moving average of $209.03 and a two-hundred day simple moving average of $208.67. The firm has a market capitalization of $87.29 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 2.29 and a beta of 0.74. Waste Management has a 52 week low of $162.03 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts anticipate that Waste Management will post 7.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Trium Capital LLP increased its holdings in shares of Waste Management by 33.6% in the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after buying an additional 3,029 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after purchasing an additional 5,367 shares during the period. Pinkerton Retirement Specialists LLC increased its position in shares of Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock valued at $4,284,000 after buying an additional 3,145 shares during the period. Norden Group LLC bought a new stake in Waste Management during the 1st quarter valued at approximately $7,146,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Waste Management by 417.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after acquiring an additional 2,800 shares in the last quarter. 80.40% of the stock is owned by 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.