Waste Management (WM) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.74 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.71. The company posted revenue of $3425.00 million in the period, compared to analysts expectations of $3403.58 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.
Many Wall Street Analysts have commented on Waste Management. Company shares were Reiterated by Stifel on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $70 .Company shares were Reiterated by Imperial Capital on Apr 29, 2016 to “In-line”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .Company shares were Reiterated by Wedbush on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .
Waste Management opened for trading at $66.42 and hit $66.85 on the upside on Thursday, eventually ending the session at $66.36, with a gain of 0.39% or 0.26 points. The heightened volatility saw the trading volume jump to 21,33,103 shares. Company has a market cap of $29,481 M.
In a different news, on Jul 19, 2016, W Robert Reum (director) sold 771 shares at $67.58 per share price. According to the SEC, on Jul 19, 2016, John C Pope (director) sold 449 shares at $67.21 per share price. On Jul 19, 2016, Thomas H Weidemeyer (director) sold 449 shares at $67.58 per share price, according to the Form-4 filing with the securities and exchange commission.
Waste Management Inc. is a holding company. The Company through its subsidiaries provides waste management environmental services. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focus on geographic areas and provides collection transfer recycling and resource recovery and disposal services. The Company develops operates and owns landfill gas-to-energy facilities in the United States. The Company’s segments include Tier 1 which comprises areas in the Southern United States; Tier 2 which comprises areas located in the Midwest and Northeast United States and Tier 3 which encompasses the remaining areas including the Northwest and Mid-Atlantic regions of the United States and Eastern Canada. The Company owns or operates 252 landfill sites. It manages 298 transfer stations that consolidate compact and transport waste.