GFL Environmental Inc. (NYSE:GFL) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on GFL Environmental, with 11 buys, two holds and two sells among 15 firms. The average 12-month price target is $54.25.
• GFL reported quarterly revenue of $1.37 billion, up 16.3% year over year, but earnings per share of $0.14 missed the $0.17 consensus estimate.
• The company paid a quarterly dividend of $0.0169 per share, while institutional investors own 64.7% of outstanding shares and several major funds recently increased their positions.

Shares of GFL Environmental Inc. (NYSE:GFL - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $54.25.

A number of brokerages recently weighed in on GFL. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the stock a "buy" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their target price on GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday, July 16th. Weiss Ratings raised GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. Zacks Research cut GFL Environmental from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Wednesday.

GFL Environmental Stock Up 0.6%

GFL opened at $43.72 on Friday. The firm has a 50 day moving average price of $40.47 and a 200 day moving average price of $39.85. The company has a market cap of $15.78 billion, a PE ratio of -82.49, a price-to-earnings-growth ratio of 2.82 and a beta of 0.68. GFL Environmental has a 1 year low of $33.33 and a 1 year high of $48.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.75 and a current ratio of 0.75.

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

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 13th were given a $0.0169 dividend. 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 is presently -13.21%.

Institutional Trading of GFL Environmental

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in GFL Environmental by 43.8% during the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company's stock worth $77,064,000 after purchasing an additional 563,001 shares during the last quarter. Legal & General Group Plc raised its position in shares of GFL Environmental by 12.0% in the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company's stock valued at $52,700,000 after purchasing an additional 131,332 shares in the last quarter. Verbena Value LP boosted its stake in shares of GFL Environmental by 44.7% during the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company's stock valued at $50,527,000 after buying an additional 374,000 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of GFL Environmental during the 4th quarter valued at approximately $1,327,000. Finally, Vestcor Inc grew its position in shares of GFL Environmental by 25.7% during the fourth quarter. Vestcor Inc now owns 391,815 shares of the company's stock worth $16,828,000 after buying an additional 80,000 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other 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.

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