GFL Environmental Inc. (NYSE:GFL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of GFL Environmental Inc. (NYSE:GFL) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $55.00.

GFL has been the topic of a number of recent analyst reports. Weiss Ratings downgraded GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Scotiabank dropped their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, May 4th. Finally, Citigroup dropped their price objective on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th.

GFL Environmental Price Performance

GFL stock opened at $35.13 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $12.60 billion, a P/E ratio of 109.80, a P/E/G ratio of 2.73 and a beta of 0.72. The business’s 50-day moving average is $37.20 and its two-hundred day moving average is $41.06. GFL Environmental has a 1 year low of $33.33 and a 1 year high of $51.51.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned ($0.09) EPS. GFL Environmental’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts anticipate that GFL Environmental will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were issued a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, April 13th. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital Research Global Investors increased its holdings in shares of GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after acquiring an additional 3,267,936 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in GFL Environmental by 9.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock worth $481,125,000 after buying an additional 977,344 shares during the last quarter. Vanguard Group Inc. grew its stake in GFL Environmental by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after buying an additional 97,020 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in GFL Environmental by 2.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock worth $365,595,000 after buying an additional 185,169 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in GFL Environmental by 40.8% during the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after buying an additional 1,932,442 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.