GFL Environmental Inc. (GFL) to Issue Quarterly Dividend of $0.01 on January 31st

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Thursday, January 2nd,Wall Street Journal reports. Shareholders of record on Monday, January 13th will be paid a dividend of 0.014 per share on Friday, January 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th.

GFL Environmental has increased its dividend by an average of 8.6% annually over the last three years. GFL Environmental has a payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GFL Environmental to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

GFL Environmental Price Performance

GFL opened at $44.18 on Friday. The stock’s 50-day moving average price is $45.04 and its 200 day moving average price is $41.85. GFL Environmental has a 12-month low of $30.57 and a 12-month high of $48.87. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of -33.22 and a beta of 1.17. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 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 during the quarter, compared to analyst estimates of $1.49 billion. As a group, sell-side analysts expect that GFL Environmental will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on GFL. Raymond James boosted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group upped their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Truist Financial increased their price target on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank boosted their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.80.

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.