GFL Environmental (NYSE:GFL) Price Target Raised to $50.00

GFL Environmental (NYSE:GFL) had its price objective raised by UBS Group from $47.00 to $50.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on GFL. Scotiabank assumed coverage on shares of GFL Environmental in a research report on Friday, October 4th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Raymond James increased their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Stock Performance

GFL Environmental stock traded down $0.38 during midday trading on Thursday, hitting $45.12. 1,954,631 shares of the company’s stock were exchanged, compared to its average volume of 1,052,493. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of -33.92 and a beta of 1.15. GFL Environmental has a 12-month low of $26.87 and a 12-month high of $46.48. The firm’s 50 day simple moving average is $40.82 and its 200 day simple moving average is $38.39.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.46% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Equities research analysts predict that GFL Environmental will post 0.61 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s dividend payout ratio (DPR) is presently -3.76%.

Institutional Investors Weigh In On GFL Environmental

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of GFL Environmental by 80.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,579 shares of the company’s stock worth $183,000 after acquiring an additional 2,044 shares during the period. PCJ Investment Counsel Ltd. boosted its position in GFL Environmental by 59.0% during the third quarter. PCJ Investment Counsel Ltd. now owns 88,350 shares of the company’s stock worth $3,524,000 after purchasing an additional 32,800 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in GFL Environmental in the third quarter valued at $82,000. Swiss National Bank increased its position in shares of GFL Environmental by 0.8% in the third quarter. Swiss National Bank now owns 661,900 shares of the company’s stock valued at $26,446,000 after buying an additional 5,400 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of GFL Environmental by 93.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 40,304 shares of the company’s stock worth $1,607,000 after buying an additional 19,520 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.