GFL Environmental (NYSE:GFL) Announces Earnings Results

GFL Environmental (NYSE:GFL) issued its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01, Zacks reports. GFL Environmental had a return on equity of 4.51% and a net margin of 3.09%.The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted ($0.09) EPS. The business’s revenue was up 5.4% compared to the same quarter last year.

GFL Environmental Stock Down 2.2%

NYSE GFL traded down $0.88 during trading hours on Friday, hitting $39.23. The company’s stock had a trading volume of 796,805 shares, compared to its average volume of 1,948,392. GFL Environmental has a 52 week low of $36.96 and a 52 week high of $52.00. The company has a market capitalization of $14.04 billion, a PE ratio of 122.69, a price-to-earnings-growth ratio of 3.55 and a beta of 0.84. 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’s 50-day simple moving average is $41.99 and its two-hundred day simple moving average is $43.23.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were paid a $0.0169 dividend. The ex-dividend date was Monday, April 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is 1.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GFL. Barclays increased their price target on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. downgraded GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $49.00 to $42.00 in a report on Tuesday, April 14th. Scotiabank decreased their price target on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. Weiss Ratings downgraded GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Finally, Royal Bank Of Canada increased their price target on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.44.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently added to or reduced their stakes in GFL. Aster Capital Management DIFC Ltd bought a new position in GFL Environmental in the 4th quarter valued at about $25,000. Sunbelt Securities Inc. bought a new position in GFL Environmental in the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC lifted its position in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after acquiring an additional 219 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in GFL Environmental by 45.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after acquiring an additional 304 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in GFL Environmental in the 4th quarter valued at about $72,000. 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.