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

GFL Environmental Inc. (NYSE:GFL) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $45.80.

Several research firms have commented on GFL. Truist Financial boosted their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Raymond James boosted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. UBS Group raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Scotiabank increased their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th.

GFL Environmental Trading Up 1.8 %

Shares of GFL stock opened at $47.10 on Friday. GFL Environmental has a 1-year low of $27.64 and a 1-year high of $47.16. The company has a market cap of $18.53 billion, a price-to-earnings ratio of -35.41 and a beta of 1.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a 50 day simple moving average of $42.34 and a 200-day simple moving average of $39.75.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, equities research analysts expect that GFL Environmental will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s payout ratio is presently -3.76%.

Institutional Investors Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC grew its holdings in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares during the period. Cape Investment Advisory Inc. lifted its position in GFL Environmental by 325.0% in the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after buying an additional 975 shares during the last quarter. Fifth Third Bancorp lifted its position in GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after buying an additional 459 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in GFL Environmental during the third quarter worth about $60,000. Finally, Tobam increased its position in shares of GFL Environmental by 139.5% during the second quarter. Tobam now owns 1,751 shares of the company’s stock valued at $68,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

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.