GFL Environmental (NYSE:GFL) Sets New 52-Week Low – Here’s What Happened

GFL Environmental Inc. (NYSE:GFL)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $38.60 and last traded at $39.5160, with a volume of 101759 shares changing hands. The stock had previously closed at $38.96.

Wall Street Analysts Forecast Growth

GFL has been the subject of a number of research reports. Barclays lifted their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Scotiabank cut their price target on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their price target on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Wolfe Research started coverage on GFL Environmental in a report on Friday, March 13th. They issued an “outperform” rating on the stock. Finally, Citigroup reduced their target price on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Trading Up 3.1%

The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $42.94 and a two-hundred day moving average of $44.07. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 3.04 and a beta of 0.86.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.12. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.58) EPS. On average, research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, January 13th. GFL Environmental’s dividend payout ratio is currently 0.88%.

Institutional Investors Weigh In On GFL Environmental

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of GFL Environmental during the 4th quarter worth about $149,466,000. Maverick Capital Ltd. boosted its position in GFL Environmental by 216.5% in the fourth quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock valued at $215,761,000 after buying an additional 3,436,419 shares in the last quarter. Capital Research Global Investors grew its stake in GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after buying an additional 3,267,936 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of GFL Environmental by 40.8% during the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after buying an additional 1,932,442 shares in the last quarter. Finally, UBS Group AG grew its position in GFL Environmental by 203.9% during the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after acquiring an additional 1,305,953 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.