Waste Management Inc (NYSE:WM) reported mixed results for the first quarter after the closing bell on Tuesday.
The company posted quarterly earnings of $1.81 per share which beat the analyst consensus estimate of $1.74 per share. The company reported quarterly sales of $6.227 billion which missed the analyst consensus estimate of $6.286 billion.
“Strong earnings and cash flow results in the quarter achieved our expectations, reflecting the strength of the WM team and the resilience of our business model,” said Jim Fish, WM’s CEO. “Disciplined pricing, cost optimization and contributions from sustainability growth projects led to first quarter adjusted operating EBITDA growth of 5.9% and margin expansion of 70 basis points despite a challenging quarter of weather impacts. The momentum in our business, combined with our confidence in our ability to execute on our plan for the balance of the year, sets us up to achieve the full-year financial outlook we provided last quarter.”
Waste Management shares rose 1.1% to trade at $232.72 on Thursday.
These analysts made changes to their price targets on Waste Management following earnings announcement.
- Wells Fargo analyst Jerry Revich maintained Waste Management with an Overweight rating and lowered the price target from $273 to $268.
- Barclays analyst William Grippin maintained the stock with an Overweight rating and raised the price target from $266 to $270.
Considering buying WM stock? Here’s what analysts think:
Photo via Shutterstock