GFL Environmental Inc. (NYSE:GFL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of GFL Environmental Inc. (NYSE:GFL) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $54.75.

GFL has been the subject of a number of research analyst reports. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their price target on GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Friday, July 31st. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings lowered shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 12th.

GFL Environmental Stock Performance

Shares of GFL stock opened at $41.55 on Tuesday. GFL Environmental has a 12-month low of $33.33 and a 12-month high of $51.40. The business’s fifty day simple moving average is $38.86 and its 200-day simple moving average is $39.93. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The company has a market cap of $14.99 billion, a PE ratio of -78.40, a PEG ratio of 2.72 and a beta of 0.68.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts expect that GFL Environmental will post 0.65 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 13th were paid a dividend of $0.0169 per share. The ex-dividend date was Monday, July 13th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental’s dividend payout ratio is presently -11.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings in shares of GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after buying an additional 3,267,936 shares during the last quarter. Vanguard Group Inc. increased its position in shares of GFL Environmental by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock valued at $479,255,000 after acquiring an additional 97,020 shares during the period. Pictet Asset Management Holding SA raised its stake in GFL Environmental by 2.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock worth $365,595,000 after acquiring an additional 185,169 shares during the last quarter. CIBC Asset Management Inc raised its stake in GFL Environmental by 25.8% in the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock worth $219,360,000 after acquiring an additional 1,047,180 shares during the last quarter. Finally, Maverick Capital Ltd. raised its stake in GFL Environmental by 216.5% in the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after acquiring an additional 3,436,419 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.