FY2024 Earnings Forecast for GFL Issued By Scotiabank

GFL Environmental Inc. (NYSE:GFL) – Analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of GFL Environmental in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst K. Gupta anticipates that the company will post earnings of $0.63 per share for the year. Scotiabank currently has a “Sector Outperform” rating and a $51.00 target price on the stock. The consensus estimate for GFL Environmental’s current full-year earnings is $0.59 per share. Scotiabank also issued estimates for GFL Environmental’s FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.55 EPS.

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

Several other brokerages also recently issued reports on GFL. UBS Group upped their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Truist Financial increased 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, Raymond James lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Stock Performance

Shares of GFL stock opened at $44.18 on Monday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of -33.22 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental has a one year low of $30.57 and a one year high of $48.87. The company’s 50-day moving average is $45.04 and its 200 day moving average is $41.90.

Hedge Funds Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC raised its position in GFL Environmental by 60.6% in the third 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. bought a new position in GFL Environmental in the 3rd quarter worth $60,000. Avior Wealth Management LLC bought a new position in GFL Environmental in the 3rd quarter worth $82,000. US Bancorp DE lifted its position in GFL Environmental by 51.5% during the third quarter. US Bancorp DE now owns 2,569 shares of the company’s stock valued at $102,000 after purchasing an additional 873 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in GFL Environmental by 30.7% during the third quarter. Signaturefd LLC now owns 2,808 shares of the company’s stock valued at $112,000 after purchasing an additional 659 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Monday, January 13th. GFL Environmental’s dividend payout ratio is -3.76%.

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.