JPMorgan Chase & Co. Begins Coverage on GFL Environmental (NYSE:GFL)

JPMorgan Chase & Co. assumed coverage on shares of GFL Environmental (NYSE:GFL) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $54.00 target price on the stock.

A number of other research firms have also issued reports on GFL. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Citigroup lifted their price objective on GFL Environmental from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday. Seaport Res Ptn raised GFL Environmental to a “strong-buy” rating in a report on Tuesday, May 6th. Raymond James reissued an “outperform” rating and set a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, Scotiabank reissued an “outperform” rating on shares of GFL Environmental in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

GFL Environmental Stock Performance

GFL opened at $49.12 on Friday. The firm has a market capitalization of $18.01 billion, a P/E ratio of -36.93 and a beta of 1.08. The stock’s 50 day moving average price is $48.42 and its two-hundred day moving average price is $46.20. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a 12-month low of $30.57 and a 12-month high of $52.00.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. On average, equities analysts forecast that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were issued a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio (DPR) is presently 1.23%.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently modified their holdings of GFL. Berbice Capital Management LLC bought a new position in shares of GFL Environmental during the 4th quarter worth approximately $27,000. Grimes & Company Inc. bought a new position in shares of GFL Environmental during the 4th quarter worth approximately $223,000. Blue Trust Inc. lifted its position in shares of GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after buying an additional 306 shares during the period. Symphony Financial Ltd. Co. bought a new position in shares of GFL Environmental during the 4th quarter worth approximately $213,000. Finally, Capital Insight Partners LLC lifted its position in shares of GFL Environmental by 7.5% during the 4th quarter. Capital Insight Partners LLC now owns 39,752 shares of the company’s stock worth $1,771,000 after buying an additional 2,790 shares during the period. Institutional investors own 64.70% of the company’s stock.

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.