Waste Management (NYSE:WM) announced that its Board of Directors has initiated a stock buyback program, which authorizes the company to buyback $1.25 billion in shares on Thursday, December 14th, EventVestor reports. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
Waste Management (NYSE:WM) traded down $0.68 during midday trading on Friday, hitting $84.66. 1,508,900 shares of the company’s stock were exchanged, compared to its average volume of 1,686,993. The company has a market capitalization of $37,056.01, a PE ratio of 27.35, a PEG ratio of 2.77 and a beta of 0.75. Waste Management has a 12-month low of $69.00 and a 12-month high of $85.87. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. analysts expect that Waste Management will post 3.2 EPS for the current year.
Several research analysts have recently commented on WM shares. KeyCorp raised their target price on shares of Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. BMO Capital Markets raised their target price on shares of Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Oppenheimer raised their target price on shares of Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $80.00 in a report on Wednesday, October 4th. Finally, Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Monday, October 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Waste Management has an average rating of “Buy” and an average price target of $83.31.
In other news, SVP Barry H. Caldwell sold 1,650 shares of Waste Management stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total transaction of $133,815.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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