GFL Environmental Inc. to Issue Quarterly Dividend of $0.01 (NYSE:GFL)

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Monday, September 30th, Zacks reports. Investors of record on Wednesday, October 16th will be paid a dividend of 0.014 per share on Thursday, October 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Wednesday, October 16th.

GFL Environmental has raised its dividend payment by an average of 19.4% annually over the last three years. GFL Environmental has a payout ratio of 5.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.9 %

GFL stock traded up $0.37 during midday trading on Monday, reaching $40.87. The company’s stock had a trading volume of 411,200 shares, compared to its average volume of 1,227,247. GFL Environmental has a 1 year low of $26.87 and a 1 year high of $43.79. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of -27.00 and a beta of 1.16. The stock has a fifty day simple moving average of $40.62 and a two-hundred day simple moving average of $37.32. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. On average, equities research analysts predict that GFL Environmental will post 0.62 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on GFL. Royal Bank of Canada raised their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets downgraded GFL Environmental from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $43.00 to $42.00 in a report on Tuesday, July 9th. Raymond James increased their target price 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. Finally, Scotiabank assumed coverage on shares of GFL Environmental in a research report on Friday, October 4th. They set a “sector outperform” rating and a $50.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $43.09.

GFL Environmental Company Profile

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.