GFL Environmental Inc. (NYSE:GFL) Receives Average Rating of “Moderate Buy” from Brokerages

GFL Environmental Inc. (NYSE:GFL) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $54.8889.

Several equities analysts recently weighed in on GFL shares. Weiss Ratings lowered shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the stock a “buy” rating in a research note on Monday, July 6th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Finally, Scotiabank dropped their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, May 4th.

GFL Environmental Stock Performance

Shares of GFL opened at $39.63 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a 50 day moving average price of $36.72 and a two-hundred day moving average price of $40.31. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $51.51. The firm has a market capitalization of $14.22 billion, a P/E ratio of 123.86, a P/E/G ratio of 2.93 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.GFL Environmental’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. Equities analysts forecast that GFL Environmental will post 0.56 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be paid a $0.0169 dividend. The ex-dividend date is Monday, July 13th. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

Institutional Investors Weigh In On GFL Environmental

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of GFL Environmental in the fourth quarter worth about $149,466,000. Maverick Capital Ltd. increased its holdings in GFL Environmental by 216.5% during the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after acquiring an additional 3,436,419 shares during the period. Capital Research Global Investors lifted its stake in GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. Nordea Investment Management AB lifted its stake in GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after purchasing an additional 1,932,442 shares in the last quarter. Finally, UBS Group AG boosted its holdings in GFL Environmental by 203.9% in the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after purchasing an additional 1,305,953 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Company Profile

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.