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

GFL Environmental Inc. (NYSE:GFL) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $57.60.

GFL has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. Barclays began coverage on shares of GFL Environmental in a research report on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 target price for the company. TD Cowen reaffirmed a “buy” rating and issued a $65.00 price objective on shares of GFL Environmental in a research note on Friday, September 11th. Finally, Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the stock a “buy” rating in a report on Monday, July 6th.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of GFL Environmental in the fourth quarter valued at about $149,466,000. Capital Research Global Investors increased its stake in shares of GFL Environmental by 17.6% in the fourth 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 during the period. CIBC Asset Management Inc boosted its stake in GFL Environmental by 25.8% during the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock valued at $219,360,000 after purchasing an additional 1,047,180 shares during the period. Alberta Investment Management Corp acquired a new stake in GFL Environmental in the 4th quarter valued at approximately $33,077,000. Finally, Bornite Capital Management LP boosted its position in shares of GFL Environmental by 80.8% in the fourth quarter. Bornite Capital Management LP now owns 1,342,400 shares of the company’s stock valued at $57,656,000 after acquiring an additional 600,000 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Trading Up 0.0%

NYSE GFL opened at $41.99 on Wednesday. GFL Environmental has a twelve month low of $33.33 and a twelve month high of $47.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of -79.23, a PEG ratio of 3.10 and a beta of 0.72. The firm’s 50 day moving average price is $41.74 and its two-hundred day moving average price is $39.61.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities analysts anticipate that GFL Environmental will post 0.57 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, October 14th. GFL Environmental’s payout ratio is -13.21%.

About GFL Environmental

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.