GFL Environmental Inc. (NYSE:GFL) Stock Has Average Target Price of $57.60 According to Analysts

GFL Environmental Inc. (NYSE:GFL) has been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $57.60.

GFL has been the topic of several analyst reports. TD Cowen reissued a “buy” rating and set a $65.00 price objective on shares of GFL Environmental in a research note on Friday, September 11th. Weiss Ratings upgraded GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Barclays assumed coverage on GFL Environmental in a research report on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 target price on the stock. Scotiabank restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, September 2nd. Finally, Citigroup set a $51.00 price target on GFL Environmental and gave the stock a “buy” rating in a research report on Monday, July 6th.

GFL Environmental Trading Up 3.9%

NYSE:GFL opened at $41.99 on Wednesday. GFL Environmental has a one year low of $33.33 and a one year high of $47.01. The business has a fifty day moving average price of $41.74 and a 200-day moving average price of $39.63. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of -79.23, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. Sell-side analysts forecast that GFL Environmental will post 0.57 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be given a dividend of $0.0169 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental’s payout ratio is -13.21%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of GFL Environmental during the 4th quarter worth approximately $149,466,000. Capital Research Global Investors lifted its stake in shares of GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after purchasing an additional 3,267,936 shares during the period. CIBC Asset Management Inc boosted its holdings in GFL Environmental by 25.8% during the fourth quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock worth $219,360,000 after buying an additional 1,047,180 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in GFL Environmental during the fourth quarter valued at $33,077,000. Finally, Bornite Capital Management LP grew its position in GFL Environmental by 80.8% during the fourth quarter. Bornite Capital Management LP now owns 1,342,400 shares of the company’s stock valued at $57,656,000 after buying an additional 600,000 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.