Citigroup Forecasts Strong Price Appreciation for GFL Environmental (NYSE:GFL) Stock

Key Points

• Citigroup has raised its price target for GFL Environmental stock from $58.00 to $61.00, indicating a potential upside of 29.83% from its previous close.
• GFL Environmental received positive ratings from multiple firms, with two analysts issuing a Strong Buy rating and the overall consensus rating being a "Buy."
• The company reported a net margin of 48.53% and achieved a revenue of $1.23 billion for the last quarter, marking a year-over-year revenue increase of 5.9%.

GFL Environmental (NYSE:GFL - Get Free Report) had its price objective hoisted by analysts at Citigroup from $58.00 to $61.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 29.83% from the company's previous close.

GFL has been the subject of a number of other reports. JPMorgan Chase & Co. began coverage on GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price target for the company. Scotiabank increased their target price on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Royal Bank Of Canada raised their price target on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Truist Financial increased their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $58.29.

GFL Environmental Price Performance

Shares of NYSE:GFL traded up $0.60 on Wednesday, hitting $46.99. The stock had a trading volume of 110,601 shares, compared to its average volume of 1,598,001. GFL Environmental has a twelve month low of $38.78 and a twelve month high of $52.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.67. The firm's 50 day moving average price is $48.85 and its 200-day moving average price is $48.66. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 7.41 and a beta of 1.11.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.29 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. On average, equities research analysts predict that GFL Environmental will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of GFL Environmental during the second quarter valued at about $171,945,000. American Century Companies Inc. boosted its stake in shares of GFL Environmental by 87.2% during the first quarter. American Century Companies Inc. now owns 4,515,302 shares of the company's stock valued at $218,134,000 after purchasing an additional 2,102,663 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of GFL Environmental by 30.1% during the second quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company's stock valued at $202,625,000 after purchasing an additional 927,798 shares in the last quarter. Robeco Schweiz AG acquired a new stake in shares of GFL Environmental during the first quarter valued at about $32,724,000. Finally, 1832 Asset Management L.P. acquired a new position in GFL Environmental in the first quarter valued at approximately $27,150,000. Institutional investors own 64.70% of the company's stock.

GFL Environmental Company Profile

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.

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