Citigroup Has Lowered Expectations for GFL Environmental (NYSE:GFL) Stock Price

GFL Environmental (NYSE:GFL) had its price objective reduced by analysts at Citigroup from $58.00 to $56.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 32.72% from the company’s current price.

A number of other equities analysts also recently weighed in on GFL. Raymond James Financial set a $57.00 price target on shares of GFL Environmental and gave the stock an “outperform” rating in a research note on Monday, October 6th. William Blair assumed coverage on GFL Environmental in a research note on Thursday, September 25th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of GFL Environmental in a report on Monday, December 29th. UBS Group increased their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Scotiabank set a $58.00 price target on shares of GFL Environmental in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $56.67.

GFL Environmental Trading Down 1.2%

GFL traded down $0.53 during trading on Friday, hitting $42.20. The company’s stock had a trading volume of 401,806 shares, compared to its average volume of 1,751,734. GFL Environmental has a twelve month low of $40.83 and a twelve month high of $52.00. The firm’s 50 day moving average price is $43.88 and its 200-day moving average price is $46.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $15.15 billion, a PE ratio of 6.62 and a beta of 0.88.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.69 billion. GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. On average, analysts expect that GFL Environmental will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On GFL Environmental

A number of large investors have recently added to or reduced their stakes in GFL. Berbice Capital Management LLC bought a new stake in GFL Environmental in the second quarter valued at about $25,000. Sunbelt Securities Inc. bought a new position in GFL Environmental during the 3rd quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its position in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after acquiring an additional 219 shares in the last quarter. Compass Financial Services Inc increased its holdings in shares of GFL Environmental by 63.0% in the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock valued at $41,000 after acquiring an additional 317 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after acquiring an additional 304 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

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.