Waste Management (NYSE:WM) Stock, Quote.Headers.trade-ideas

Waste Management

WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 263 active landfills and about 332 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.

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Waste Management Inc. (NYSE: WM) reported second-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate, while revenues missed the same.

Waste Management Q2 Earnings Meet Estimates, Rise Y/Y

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SRCL

Waste Management reported worse-than-expected Q2 FY24 results, with sales of $5.402B and adjusted EPS of $1.82. Free cash flow increased 41.1%.

Why Waste Management Shares Are Diving Today

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Ratings for Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) were provided by 7 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $219.14, with a high estimate of $235.00 and a low estimate of $204.00. This current average has decreased by 2.67% from the previous average price target of $225.14. 
<img src="https://www.benzinga.com/files/images/story/2024/1727989225_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A comprehensive examination of how financial experts perceive Waste Management is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Noah Kaye</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$224.00</td>
<td>$229.00</td>
</tr>
<tr>
<td>Devin Dodge</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$213.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Sabahat Khan</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$204.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Kevin Chiang</td>
<td>CIBC</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$213.00</td>
<td>$223.00</td>
</tr>
<tr>
<td>David Manthey</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$216.00</td>
<td>$226.00</td>
</tr>
<tr>
<td>Noah Kaye</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$229.00</td>
<td>$228.00</td>
</tr>
<tr>
<td>Tobey Sommer</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$235.00</td>
<td>$240.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Waste Management. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Waste Management compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Waste Management's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Waste Management's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/WM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Waste Management analyst ratings.</a>
<h2>Unveiling the Story Behind Waste Management</h2>
WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 263 active landfills and about 332 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.
<h3>Understanding the Numbers: Waste Management's Finances</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Over the 3 months period, Waste Management showcased positive performance, achieving a revenue growth rate of 5.53% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Waste Management's net margin excels beyond industry benchmarks, reaching 12.59%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 9.35%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Waste Management's ROA excels beyond industry benchmarks, reaching 2.04%. This signifies efficient management of assets and strong financial health.
Debt Management: Waste Management's debt-to-equity ratio stands notably higher than the industry average, reaching 2.25. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Significance of Analyst Ratings Explained</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 7 Analyst Projections For Waste Management

William Blair analyst Trevor Romeo initiates coverage on Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Outperform rating.

Initiation

William Blair Initiates Coverage On Waste Management with Outperform Rating

Waste Management, Inc., a Delaware corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) ("WM"), announced today that it has received, on behalf of Stericycle, Inc., a Delaware corporation ("SRCL"), the requisite consents to amend the 3.875% Senior Notes due 2029 (the "SRCL Notes") issued by SRCL and the indenture governing the SRCL Notes (the "SRCL Indenture") to eliminate substantially all of the restrictive covenants and events of default, other than payment-related, guarantee-related and bankruptcy-related events of default (collectively, the "Proposed Amendments"), based on the early tender results in connection with WM's previously announced (i) private offer to exchange (the "Exchange Offer") any and all of the $500 million aggregate principal amount outstanding of SRCL Notes held by eligible holders for a series of new notes to be issued by WM (the "WM Notes"), and (ii) WM's related solicitation of consents, on behalf of SRCL (the "Consent Solicitation"), to adopt the Proposed Amendments, pursuant to the terms and subject to the conditions set forth in an exchange offer memorandum and consent solicitation statement, dated September 10, 2024 (the "Offering Memorandum").

Offerings

WM Announces Successful Early Tender Results In Private Exchange Offer And Consent Solicitation For Any And All Of Stericycle $500M Outstanding 3.875% Senior Notes Due 2029

Waste Management's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) short percent of float has fallen 13.48% since its last report. The company recently reported that it has 3.10 million shares sold short, which is 0.77% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.77 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Waste Management Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726588818_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Waste Management has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Waste Management's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Waste Management's peer group average for short interest as a percentage of float is 3.38%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Waste Management's Recent Short Interest

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UBER</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$66.00</td>
<td>$68.0K</td>
<td>827</td>
<td>2.0K</td>
</tr>
<tr>
<td>EOSE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.00</td>
<td>$42.2K</td>
<td>2.4K</td>
<td>919</td>
</tr>
<tr>
<td>RUN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$18.00</td>
<td>$43.6K</td>
<td>3.1K</td>
<td>402</td>
</tr>
<tr>
<td>UPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$120.00</td>
<td>$62.0K</td>
<td>3.8K</td>
<td>255</td>
</tr>
<tr>
<td>MMM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$140.00</td>
<td>$109.0K</td>
<td>188</td>
<td>242</td>
</tr>
<tr>
<td>RTX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>02/21/25</td>
<td>$130.00</td>
<td>$26.9K</td>
<td>2.7K</td>
<td>65</td>
</tr>
<tr>
<td>DOV</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$180.00</td>
<td>$40.9K</td>
<td>188</td>
<td>51</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$300.00</td>
<td>$49.5K</td>
<td>467</td>
<td>47</td>
</tr>
<tr>
<td>WM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$215.00</td>
<td>$33.8K</td>
<td>40</td>
<td>40</td>
</tr>
<tr>
<td>CARR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$65.00</td>
<td>$45.9K</td>
<td>80</td>
<td>30</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For UBER (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), we notice a put option sweep that happens to be bullish, expiring in 11 day(s) on September 20, 2024. This event was a transfer of 2000 contract(s) at a $66.00 strike. This particular put needed to be split into 53 different trades to become filled. The total cost received by the writing party (or parties) was $68.0K, with a price of $34.0 per contract. There were 827 open contracts at this strike prior to today, and today 2002 contract(s) were bought and sold. 
• Regarding EOSE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>), we observe a call option sweep with bullish sentiment. It expires in 67 day(s) on November 15, 2024. Parties traded 800 contract(s) at a $2.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $42.2K, with a price of $52.0 per contract. There were 2489 open contracts at this strike prior to today, and today 919 contract(s) were bought and sold. 
• Regarding RUN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), we observe a put option sweep with bullish sentiment. It expires in 11 day(s) on September 20, 2024. Parties traded 341 contract(s) at a $18.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $43.6K, with a price of $128.0 per contract. There were 3142 open contracts at this strike prior to today, and today 402 contract(s) were bought and sold. 
• Regarding UPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), we observe a put option sweep with bullish sentiment. It expires in 130 day(s) on January 17, 2025. Parties traded 141 contract(s) at a $120.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $62.0K, with a price of $440.0 per contract. There were 3886 open contracts at this strike prior to today, and today 255 contract(s) were bought and sold. 
• For MMM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), we notice a put option sweep that happens to be bearish, expiring in 39 day(s) on October 18, 2024. This event was a transfer of 100 contract(s) at a $140.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $109.0K, with a price of $1090.0 per contract. There were 188 open contracts at this strike prior to today, and today 242 contract(s) were bought and sold. 
• Regarding RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), we observe a call option sweep with neutral sentiment. It expires in 165 day(s) on February 21, 2025. Parties traded 65 contract(s) at a $130.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $26.9K, with a price of $415.0 per contract. There were 2745 open contracts at this strike prior to today, and today 65 contract(s) were bought and sold. 
• Regarding DOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>), we observe a call option trade with bearish sentiment. It expires in 67 day(s) on November 15, 2024. Parties traded 50 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $40.9K, with a price of $820.0 per contract. There were 188 open contracts at this strike prior to today, and today 51 contract(s) were bought and sold. 
• Regarding CAT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), we observe a put option sweep with bearish sentiment. It expires in 284 day(s) on June 20, 2025. Parties traded 30 contract(s) at a $300.00 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $49.5K, with a price of $1650.0 per contract. There were 467 open contracts at this strike prior to today, and today 47 contract(s) were bought and sold. 
• Regarding WM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>), we observe a put option trade with bearish sentiment. It expires in 32 day(s) on October 11, 2024. Parties traded 40 contract(s) at a $215.00 strike. The total cost received by the writing party (or parties) was $33.8K, with a price of $845.0 per contract. There were 40 open contracts at this strike prior to today, and today 40 contract(s) were bought and sold. 
• Regarding CARR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>), we observe a call option trade with bullish sentiment. It expires in 494 day(s) on January 16, 2026. Parties traded 30 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $45.9K, with a price of $1530.0 per contract. There were 80 open contracts at this strike prior to today, and today 30 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

CARR

EOSE

UBER

10 Industrials Stocks With Whale Alerts In Today's Session

Legal

Stericycle Says Merger With Waste Management Got UK Foreign Direct Investment Approval, Expects Merger To Close As Early As Q4 Of 2024

In recent developments, the U.S. Consumer Products Safety Commission (CPSC) has called for an investigation into e-commerce retailers Shein and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) owned Temu. The demand comes in light of allegations regarding the sale of &#8220;deadly baby and toddler products&#8221; on these platforms, as per a CPSC statement.
What Happened: CPSC Commissioners Peter Feldman and Douglas Dziak are advocating for a probe into the compliance of Shein from Singapore, Temu from China, and other similar foreign-owned e-commerce platforms with CPSC regulations, Reuters reported on Wednesday. The investigation would also scrutinize the management of their third-party sellers and the presentation of imported goods.
Shein and Temu, both of which import budget-friendly goods from China to the U.S., have been flagged by the Commission due to their use of de minimis, a rule which permits packages valued at $800 or less to evade tariffs if shipped directly to consumers.
See Also: <a href="https://www.benzinga.com/news/24/09/40673408/twitter-co-founder-jack-dorsey-endorses-swedish-vpn-service-after-elon-musks-x-gets-banned-in-brazil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Twitter Co-Founder Jack Dorsey Endorses Swedish VPN Service After Elon Musk&#8217;s X Gets Banned In Brazil</a>
The success of Shein and Temu in the U.S. market can be attributed to their low prices and the use of de minimis. However, the quality of their products has been a subject of criticism. In 2023, a bipartisan group of U.S. lawmakers proposed a bill to repeal the de minimis rule, which is extensively used by e-commerce platforms, including third-party sellers on Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
Why It Matters: The e-commerce landscape has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39708215/amazon-vs-temu-shein-tiktok-shop-whos-winning-the-us-e-commerce-battle">witnessing a fierce competition</a>, with Amazon.com maintaining its dominance, while emerging players like Temu, Shein, and TikTok Shop are gaining ground. 
However, these Chinese retailers have been facing regulatory challenges. Earlier in July, the European Union (EU) considered imposing<a href="https://www.benzinga.com/news/24/07/39615301/after-regulatory-hurdles-in-us-alibaba-rivals-shein-and-temu-face-customs-in-eu"> customs on inexpensive goods</a> bought online through Chinese retailers like Shein and Temu. Additionally, Shein <a href="https://www.benzinga.com/news/24/08/40487567/shein-takes-legal-action-against-temu-design-theft-and-fraud-allegations-fly">filed a lawsuit</a> against Temu in August for alleged design theft, counterfeiting, intellectual property infringement, and fraud.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40678873/cathie-wood-congratulates-elon-musk-on-xai-milestone-after-ai-firm-brings-100k-nvidia-gpu-colossus-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood Congratulates Elon Musk On xAI Milestone After AI Firm Brings 100K Nvidia GPU Colossus Cluster Online In Just 122 Days: &#8216;Many Big Announcements Ahead&#8217;</a></li>
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Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

US Demands Probe Into Shein And Temu Over 'Deadly' Baby Products

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) has outperformed the market over the past 10 years by 5.05% on an annualized basis producing an average annual return of 15.97%. Currently, Waste Management has a market capitalization of $79.28 billion. 
Buying $1000 In WM: If an investor had bought $1000 of WM stock 10 years ago, it would be worth $4,352.42 today based on a price of $197.66 for WM at the time of writing.
<h3>Waste Management's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722016860_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 10 Years Ago, You Would Have $4,400 Today

Oppenheimer analyst Noah Kaye maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Outperform and lowers the price target from $229 to $224.

Price Target

Oppenheimer Maintains Outperform on Waste Management, Lowers Price Target to $224

BMO Capital analyst Devin Dodge maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Market Perform and lowers the price target from $215 to $213.

BMO Capital Maintains Market Perform on Waste Management, Lowers Price Target to $213

RBC Capital analyst Sabahat Khan maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Sector Perform and lowers the price target from $215 to $204.

RBC Capital Maintains Sector Perform on Waste Management, Lowers Price Target to $204

CIBC analyst Kevin Chiang maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and lowers the price target from $223 to $213.

CIBC Maintains Neutral on Waste Management, Lowers Price Target to $213

Baird analyst David Manthey maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and lowers the price target from $226 to $216.

Baird Maintains Neutral on Waste Management, Lowers Price Target to $216

Waste Management Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wm#NYSE">WM</a>) reported second-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate, while revenues missed the same.
WM&#39;s adjusted earnings per share were $1.8, which increased 20.5% on a year-over-year basis. Total revenues of $5.4 billion missed the consensus estimate by a slight margin but increased 5.5% from the year-ago quarter.
Thestock has gained 26.6% in the past year, outperforming 22.9% and 22.6% growth of the industry it belongs to and the Zacks S&amp;P 500 Composite, respectively.
<div class="chart_embed">
<h3>Waste Management, Inc. Price and EPS Surprise</h3>
<h3><img alt="Waste Management, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/15/1721920401.png" style="height:263px; width:545px" title="" /></h3>
Waste Management, Inc. price-eps-surprise | Waste Management, Inc. Quote
</div>
<h3>Quarterly Numbers in Detail</h3>
The Collection segment recorded revenues of $4.2 billion, rising 4% from the year-ago quarter and surpassing our estimate of $4 billion. The Landfill segment&#39;s top line grew 2.2% year over year to $1.3 billion and met our estimate. Total revenues in the Transfer segment increased 5.6% to $618 million and outpaced our expectation of $604.4 million. The Recycling segment&#39;s revenues rose 20.6% to $475 million and beat our expectation of $416.2 million. The figures are before the alignment of intercompany adjustment.
The adjusted operating EBITDA was $1.6 billion, which met our estimate and increased 10.3% from the year-ago quarter. The adjusted operating EBITDA margin increased 130 basis points to 30% from the year-ago quarter and beat our estimate of 28.7%.
<h3>Balance Sheet &amp; Cash Flow</h3>
Waste Management exited the second quarter of 2024 with cash and cash equivalents of $172 million compared with $322 million at the end of the prior quarter. The long-term debt (less current portion) was $16.5 billion compared with $15.8 billion at the end of the prior quarter.
WM generated $1.2 billion in cash from operating activities in the reported quarter, while capital expenditure was $667 million. The free cash flow was $530 million. In the second quarter of 2024, $608 million in cash dividends was distributed to shareholders. The company&#39;s share repurchases amounted to $262 million.
<h3>2024 Outlook</h3>
For 2024, the adjusted operating EBITDA is expected to be $6.375-$6.525 billion. The free cash flow is estimated between $2 and $2.15.
Currently, WM carries a Zacks Rank #2 (Buy).
<h3>Earnings Snapshot of Some Business Services Stock</h3>
Fiserv, Inc.&nbsp;reported mixed second-quarter 2024 results.
FI&#39;s adjusted earnings per share (excluding 60 cents from non-recurring items) of $2.1 outpaced the consensus mark by 1.9% and increased 17.7% year over year. Adjusted revenues of $4.8 billion missed the consensus estimate by a slight margin but rose on a year-over-year basis.
IQVIA Holdings Analytics Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iqv#NYSE">IQV</a>) reported impressive second-quarter 2024 results.
Adjusted earnings (excluding 67 cents from non-recurring items) were $2.6 per share, outpacing the Zacks Consensus Estimate by 2.3% and increasing 2.4% on a year-over-year basis. Total revenues of $3.8 billion surpassed the consensus estimate marginally and rose 2.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2309349/waste-management-wm-q2-earnings-meet-estimates-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309349">To read this article on Zacks.com click here.</a>

Waste Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) shares are trading lower after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39943210/wm-announces-second-quarter-2024-earnings" rel="noreferrer noopener">worse-than-expected second-quarter financial results</a>.
Sales&nbsp;of $5.402 billion missed the consensus of&nbsp;$5.427 billion. Total company revenue grew&nbsp;5.5%, driven primarily by core price of&nbsp;6.8%&nbsp;and increases in the value of the recycled commodities the company sells.
Collection and Disposal yield stood at 4.6%, and Collection and Disposal volume declined 0.3% in the quarter.
Adjusted operating EBITDA grew 10.3% Y/Y to $1.62 billion, with a 130 basis point margin Y/Y expansion to 30.0%.
Adjusted operating EBITDA in the Collection and Disposal business rose $203 million to $1.84 billion, with a margin of 37.3% in the quarter.
Adjusted EPS of $1.82 <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">missed the consensus of $1.83</a>.
In the first half of the year, net cash from operating activities surged 21.6% to $2.52 billion and free cash flow before high-return sustainability investments increased 41.1% to $1.63 billion.
Jim Fish, WM&#8217;s President and Chief Executive Officer, said, &#8220;Revenue grew by 5.5% this quarter, and our disciplined focus on leveraging our people, technology and processes to reduce our cost to serve continued to drive margin expansion.&#8221;
&#8220;In our renewable energy business, we are scheduled to complete a total of five projects in 2024, with an additional nine projects currently under construction.&#8221;
Outlook: Waste Management reiterated its FY24 outlook of $6.375 billion–$6.525 billion in adjusted operating EBITDA and $2.0 billion–$2.15 billion in free cash flow including sustainability growth investments.
Last month, Waste Management inked a deal to acquire Stericycle, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCL#NASDAQ">SRCL</a>) for&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39137673/waste-management-to-acquire-stericycle-for-62-00share-in-cash-at-20-premium" rel="noreferrer noopener">approximately $7.2 billion, including debt</a>.
Investors can gain exposure to the stock via&nbsp;VanEck Environmental Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and IShares U.S. Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDU#NYSE">IDU</a>).
Price Action: WM shares are down 6.85% at $202.48 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Waste Management shares are trading lower after the company reported worse-than-expected Q2 financial results.

Waste Management Says Confident On Track To Meet Or Exceed The Midpoint Of Full-year Financial Outlook Provided In April

Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) reported quarterly earnings of $1.82 per share which missed the analyst consensus estimate of $1.83 by 0.55 percent. This is a 20.53 percent increase over earnings of $1.51 per share from the same period last year. The company reported quarterly sales of $5.402 billion which missed the analyst consensus estimate of $5.427 billion by 0.46 percent. This is a 5.53 percent increase over sales of $5.119 billion the same period last year.

Earnings Misses

Waste Management Q2 2024 Adj EPS $1.82 Misses $1.83 Estimate, Sales $5.402B Miss $5.427B Estimate

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Stericycle seesaws as Canadian regulator extends review of Waste Management deal

Stericycle falls as Canadian regulator extends review of Waste Management deal

Truist Financial analyst Tobey Sommer maintained a Buy rating on Waste Management (WM – Research Report) today. The company's shares closed yesterd...

Waste Management (WM) Receives a Rating Update from a Top Analyst

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Waste Management: A Trash Stock To Make Your Dividend Treasure

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Top Stock Ideas Sent Daily — Join and Gain Your Edge

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Waste Management (WM) Forecast

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