Market Update: Waste Management Inc (NYSE:WM) – Waste Management Announces First Quarter Earnings

[Business Wire] – Waste Management, Inc. today announced financial results for its quarter ended March 31, 2016. Revenues for the first quarter of 2016 were $3.2 billion compared with $3.0 billion for the same 2015 period. Read more on this. Waste Management, Inc. (WM) , with a current value of $25.90B, started trading this morning at $56.40. During today’s session, WM traded between $56.40 to $58.50 with the price of the stock fluctuating between $45.86 to $59.99 over the last 52 weeks. WM shares are currently priced at 20.36x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.33x forward p/e ratio. The company pays shareholders $1.64 per share annually in dividends, yielding 2.91%. Consensus earnings for the current quarter by the 11 sell-side analysts covering the stock is an estimate of $0.55 per share, which would be $0.06 better than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.77 is a $0.16 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.08 Billion. If realized, that would be a 1.32% increase over the year-ago quarter. In terms of ratings, BofA/Merrill Initiated WM at Neutral (Apr 25, 2016). Previously, Sterne Agee CRT Initiated WM at to Neutral. The average price target for WM shares by the analysts covering it is $59.50, which is 5.50% above where the stock opened. See more in (NYSE:WM) Similar Articles: Stock Update: Waste Management Inc (NYSE:WM) – Waste Management Announces Fourth Quarter and Full-Year 2015 Earnings Market Update (NYSE:WM): Waste Management Sets Date for Fourth Quarter and Full-Year Earnings Release Conference Call Market Update (NYSE:WM): Waste Management Inc. of Florida Completes Acquisition of Southern Waste Systems/Sun Recycling
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