Wedbush Just Issued “Neutral” Rating on Waste Management (WM)

Waste Management (WM) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 75 from a previous price target of $72 . Wedbush advised their Clients and Investors in a research report released on Feb 21, 2017.

On the company’s financial health, Waste Management reported $0.75 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 16, 2017. Analyst had a consensus of $0.77. The company had revenue of $3460.00 million for the quarter, compared to analysts expectations of $3420.52 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Several company insiders have filed Insider transactions , on Jan 19, 2017, W Robert Reum (director) sold 750 shares at $69.52 per share price. According to the SEC, on Jan 19, 2017, Frank M Clark (director) sold 433 shares at $69.60 per share price. On Jan 19, 2017, John C Pope (director) sold 433 shares at $69.42 per share price, according to the Form-4 filing with the securities and exchange commission.

Waste Management opened for trading at $71.17 and hit $72.47 on the upside on Friday, eventually ending the session at $72.45, with a gain of 1.78% or 1.27 points. The heightened volatility saw the trading volume jump to 24,36,710 shares. Company has a market cap of $31,856 M.

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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