It has been reported that Citigroup has started keeping an eye on the stock of Waste Management, as stated in a research note released on Friday (NYSE: WM). The financial consulting firm advised their client to “buy” the stock of the company that specializes in providing services to businesses.
WM has attracted the interest of a great number of distinct research companies. In a research note published on October 25, Raymond James stated that they have lowered their price objective for Waste Management from $173.00 to $170.00 and have given the stock an “outperform” rating. In a research report released on Tuesday, October 25, Jefferies Financial Group raised their price target for Waste Management from $170.00 to $191.00. In addition, it upgraded the company from a “hold” rating to a “buy” rating. Both of these changes were made to the company’s stock. Stifel Nicolaus downgraded Waste Management from a “buy” rating to a “hold” rating in a research note published on Monday, December 19. They also reduced their price goal for the stock from $185.00 to $171.00. Both of these changes were made public. Oppenheimer mentioned in a research note released on Thursday, October 20, that the company is aiming for a price of $169.00 for waste management.
Last but not least, StockNews.com downgraded its recommendation for Waste Management from a “strong-buy” rating to a “buy” rating in a research report published on Thursday, December 15. Four of the eight equity research analysts have given the company a recommendation to buy, while the other six have recommended that investors hold onto their shares. According to information provided by the website Bloomberg.com, the company is currently receiving an average recommendation of “Hold,” and the price goal is reported to be $170.78.
On Friday, the price of WM stock when it first started trading was $153.88 per share. The simple moving average for the past fifty days for this company is $160.94, and the simple moving average for the past two hundred days for this stock is $161.83. The current ratio is 0.85, the quick ratio is 0.81, and the debt-to-equity ratio is 1.97. All three ratios are fairly close to one another. There is not much of a difference between any of the three ratios. The company presently possesses a P/E/G ratio of 2.02, a beta coefficient of 0.73, and a market value currently at $63.16 billion. In the past year, the price of a share of Waste Management has ranged from a low of $138.58 to a high of $175.98.
On Thursday, December 8, Waste Management announced that its Board of Directors had approved a stock repurchase plan, which authorized the company to repurchase shares for $1.50 billion and allowed the company to purchase additional shares in the future. The provisions of the buyback authorization allow the provider of business services the ability to repurchase on the open market up to 2.2% of the total number of shares that it has outstanding. If a company intends to repurchase some of its shares of stock, the board of directors of that company may believe that the stock is currently trading at a price that is too low.
Waste Management (NYSE: WM) announced the publication of its financial results for the third quarter on Wednesday, October 26. The provider of business services reported an earnings per share total for the quarter of $1.56, which is 0.06 percentage points higher than the estimate of $1.50 made by the general public. The company’s quarterly sales came in at $5.08 billion, which is significantly higher than the $5.06 billion that industry analysts had predicted would be for its sales. Waste Management achieved a return on equity of 32.48%, while the company’s net margin came in at 11.55%. When compared to the same period the previous year, Waste Management’s quarterly sales came in at a number that was 8.8% higher. The company’s earnings per share for the quarter were $1.26, comparable to the same quarter’s results in the previous year. According to projections made by analysts specializing in the waste management industry, Waste Management will bring in a profit of 5.7 cents per share during the current fiscal year.
Recent transactions involving major investors involved both the buying and selling of shares of WM. During the second quarter of this year, Desjardins Global Asset Management Inc. invested approximately $25,000 in a new position that was available with Waste Management. McClarren Financial Advisors Inc. increased its investment in Waste Management during the third quarter by purchasing additional company shares, bringing its total investment in the business to approximately $25,000 at the end of the period. In the second quarter, Harel Insurance Investments & Financial Services Ltd. raised the total amount of money it had invested in waste management to more than $30,000, representing an increase in the company’s shareholding. During the third quarter of this year, Twin Lakes Capital Management LLC made a new investment in waste management with a total value of $31,000. Finally, but most certainly not least, during the second quarter, GoalVest Advisory LLC saw a 2,030.0% increase in the size of its holdings in Waste Management. This is not to say that this is the most important thing during this period. Following the acquisition of 203 additional shares of the business services provider’s stock during the preceding quarter, GoalVest Advisory LLC now holds 213 shares of the company’s stock. Each share of this stock is currently worth $32,000. 78.48 hedge funds and other institutional investors own a percent of the company’s shares.
Trash Management, Inc., a holding company, is in the business of providing services related to the management of environmental and garbage waste. It operates in the Tier 1 division of the market and the Tier 2 and Tier 3 divisions, respectively. Most of the United States Tier 1 areas are located in the country’s southern region. The regions of the Midwest and Northeast of the United States are, respectively, considered Tier 2 regions.
Source: news.google.com
