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

GFL Environmental Inc. (NYSE:GFL) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $54.75.

A number of brokerages recently issued reports on GFL. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Friday, July 31st. Weiss Ratings lowered shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Finally, Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a report on Friday, July 31st.

GFL Environmental Price Performance

GFL opened at $41.92 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The company has a market cap of $15.13 billion, a price-to-earnings ratio of -79.10, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. The stock has a fifty day simple moving average of $38.73 and a two-hundred day simple moving average of $39.98. GFL Environmental has a 12-month low of $33.33 and a 12-month high of $51.40.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. Research analysts predict that GFL Environmental will post 0.65 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental’s dividend payout ratio (DPR) is -13.21%.

Institutional Investors Weigh In On GFL Environmental

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of GFL Environmental during the fourth quarter valued at $149,466,000. Maverick Capital Ltd. raised its position in shares of GFL Environmental by 216.5% in the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after purchasing an additional 3,436,419 shares during the last quarter. Capital Research Global Investors boosted its stake in GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. UBS Group AG boosted its stake in GFL Environmental by 203.9% in the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in GFL Environmental by 11,121.4% during the 4th quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock valued at $50,735,000 after purchasing an additional 1,170,524 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

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.