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

GFL Environmental Inc. (NYSE:GFL) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $43.09.

GFL has been the subject of several research reports. Royal Bank of Canada increased their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets cut shares of GFL Environmental from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $43.00 to $42.00 in a research report on Tuesday, July 9th. Scotiabank initiated coverage on shares of GFL Environmental in a research note on Friday. They set a “sector outperform” rating and a $50.00 price objective for the company. Finally, Raymond James upped their target price on GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd.

GFL Environmental Stock Up 2.3 %

Shares of NYSE:GFL opened at $40.66 on Friday. The company has a 50 day moving average price of $40.48 and a two-hundred day moving average price of $37.09. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $15.31 billion, a PE ratio of 38.00 and a beta of 1.16. GFL Environmental has a 52 week low of $26.87 and a 52 week high of $43.79.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. Analysts forecast that GFL Environmental will post 0.62 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Wednesday, October 16th. GFL Environmental’s payout ratio is presently 4.67%.

Institutional Trading of GFL Environmental

Several hedge funds and other institutional investors have recently modified their holdings of GFL. Capital Research Global Investors grew its position in shares of GFL Environmental by 17.4% during the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock worth $684,877,000 after purchasing an additional 2,935,811 shares in the last quarter. Vanguard Group Inc. boosted its stake in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after buying an additional 683,120 shares in the last quarter. Fred Alger Management LLC boosted its position in GFL Environmental by 7.1% in the second quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock valued at $242,213,000 after buying an additional 411,128 shares in the last quarter. Millennium Management LLC grew its stake in shares of GFL Environmental by 40.0% during the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after buying an additional 1,614,182 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in shares of GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after buying an additional 595,259 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

About GFL Environmental

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.