Atb Cap Markets Issues Negative Estimate for GFL Earnings

GFL Environmental Inc. (NYSE:GFL) – Investment analysts at Atb Cap Markets lowered their FY2024 earnings per share estimates for shares of GFL Environmental in a research report issued to clients and investors on Wednesday, January 8th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings per share of $0.67 for the year, down from their prior forecast of $0.69. The consensus estimate for GFL Environmental’s current full-year earnings is $0.59 per share.

Other equities research analysts also recently issued research reports about the stock. Raymond James increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Scotiabank increased their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their target price on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group upped their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Trading Down 1.3 %

Shares of GFL Environmental stock opened at $44.18 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $17.38 billion, a P/E ratio of -33.22 and a beta of 1.17. GFL Environmental has a 1 year low of $30.57 and a 1 year high of $48.87. The company’s fifty day moving average is $45.04 and its two-hundred day moving average is $41.85.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid a dividend of $0.014 per share. The ex-dividend date is Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio (DPR) is presently -3.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GFL. Continuum Advisory LLC grew its holdings in shares of GFL Environmental by 60.6% in the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after acquiring an additional 254 shares during the period. Spartan Fund Management Inc. purchased a new stake in GFL Environmental during the third quarter worth $60,000. Avior Wealth Management LLC acquired a new stake in GFL Environmental in the third quarter valued at $82,000. Andra AP fonden purchased a new position in shares of GFL Environmental in the second quarter valued at $90,000. Finally, US Bancorp DE raised its stake in shares of GFL Environmental by 51.5% during the 3rd quarter. US Bancorp DE now owns 2,569 shares of the company’s stock worth $102,000 after buying an additional 873 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

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.