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Waste Management, Inc. (NYSE:WM) - Market Performance and Future Outlook
Oct 30, 2024 4:07 PM - Gordon Thompson
Image credit: Google Images
- BMO Capital maintains a "Market Perform" rating for Waste Management, Inc. (NYSE:WM) and raises the price target from $213 to $220.
- WM's Q3 2024 earnings per share reached $1.96, surpassing the Zacks Consensus Estimate of $1.86.
- The company's revenue growth across all segments indicates robust performance, with a market capitalization of approximately $87.16 billion.
Waste Management, Inc. (NYSE:WM) is a leading provider of comprehensive waste management services in North America. The company offers collection, transfer, recycling, and disposal services. It competes with other waste management companies like Republic Services and Waste Connections. On October 30, 2024, BMO Capital maintained its "Market Perform" rating for WM, suggesting investors hold their positions. At that time, WM's stock price was around $216.55.
BMO Capital also raised WM's price target from $213 to $220, as highlighted by TheFly. This adjustment reflects confidence in WM's future performance. The company's recent Q3 2024 earnings call, held on October 29, 2024, showcased strong financial results. WM's earnings per share reached $1.96, surpassing the Zacks Consensus Estimate of $1.86. This is an improvement from the previous year's $1.63 per share.
WM's revenue growth across all segments indicates robust performance. The company's market capitalization is approximately $87.16 billion, reflecting its significant presence in the industry. Despite a slight decrease in stock price to $217.20, WM's performance remains strong. The stock has fluctuated between $216.31 and $218.86 during the trading day.
The Q3 2024 earnings call featured key company leaders, including CEO Jim Fish and CFO Devina Rankin. Analysts from major financial institutions like Morgan Stanley and Goldman Sachs participated, highlighting the importance of WM's financial performance. The company's strategic initiatives and strong earnings results contribute to the positive outlook reflected in the raised price target.
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