Market Update (NYSE:WM): Waste Management Announces Pricing of $500 Million Senior Notes

[Business Wire] – Waste Management, Inc. today announced that it has priced an underwritten public offering of $500 million aggregate principal amount of 2.4% senior notes due May 15, 2023 under an effective shelf registration statement previously filed with the Securities and Exchange Commission. Read more on this. Waste Management, Inc. (WM) , with a current market cap of $27.19B, started the session at $60.70. Today, shares have traded between $60.52 and $61.27 per share with a one year range of $45.86 to $61.27. WM shares are currently priced at 21.54x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.47x earnings multiple. And for dividend hunters, the company pays shareholders $1.64 per share annually in dividends, yielding 2.70%. According to a consensus of 12 analysts, the earnings estimate of $0.71 per share would be $0.04 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $2.80 which would be a $0.19 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.40 Billion. If realized, that would be a 2.41% 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 the stock is $62.73, which is 3.34% above where the stock opened this morning. See more in (NYSE:WM) Similar Articles: Market Update: Waste Management Inc (NYSE:WM) – Waste Management Announces First Quarter Earnings Stock Update: Waste Management Inc (NYSE:WM) – Waste Management Announces Fourth Quarter and Full-Year 2015 Earnings Market Update (NYSE:WM): Waste Management Inc. of Florida Completes Acquisition of Southern Waste Systems/Sun Recycling
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