Waste Management (WM) is Downgraded by Wedbush to Neutral, Lowers Price Target to $ 68

Waste Management (WM) was Downgraded by Wedbush to ” Neutral” while Lowering the Price Target of the company shares to $ 68 from a previous price target of $73 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on Waste Management. Macquarie Initiated Waste Management on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $69.Waste Management was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Aug 9, 2016. Company shares were Downgraded by Barclays on Aug 9, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 70 from a previous price target of $66 .

On the company’s financial health, Waste Management reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.71. The company had revenue of $3425.00 million for the quarter, 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.

Waste Management closed down -0.35 points or -0.56% at $62.43 with 14,40,912 shares getting traded on Tuesday. Post opening the session at $62.61, the shares hit an intraday low of $62.215 and an intraday high of $62.845 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 24, 2016, Jeff M Harris (Senior Vice President) sold 23,798 shares at $65.50 per share price. According to the SEC, on Aug 16, 2016, John J Morris (Sr VP Field Operations) sold 12,738 shares at $66.75 per share price. On Aug 16, 2016, James E Jr Trevathan (Executive Vice President) sold 0 shares at $66.82 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.

Waste Management

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