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

GFL Environmental Inc. (NYSE:GFL) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $55.00.

A number of research firms recently commented on GFL. Citigroup decreased their price target on GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings downgraded GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. JPMorgan Chase & Co. downgraded GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $49.00 to $42.00 in a research note on Tuesday, April 14th. Finally, Scotiabank decreased their price target on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, May 4th.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds have recently bought and sold shares of GFL. Jones Financial Companies Lllp grew its stake in GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after purchasing an additional 2,245 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in GFL Environmental by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock worth $34,514,000 after acquiring an additional 346,394 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GFL Environmental by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock worth $22,171,000 after acquiring an additional 14,252 shares during the last quarter. Invesco Ltd. lifted its holdings in GFL Environmental by 22.7% in the second quarter. Invesco Ltd. now owns 86,967 shares of the company’s stock worth $4,388,000 after acquiring an additional 16,096 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after acquiring an additional 219 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Trading Up 0.2%

NYSE:GFL opened at $37.39 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. GFL Environmental has a one year low of $33.33 and a one year high of $51.51. The business’s 50-day simple moving average is $36.78 and its 200 day simple moving average is $40.78. The stock has a market cap of $13.41 billion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, sell-side analysts predict that GFL Environmental will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were paid a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 13th. GFL Environmental’s payout ratio is 21.88%.

About GFL Environmental

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.