GFL Environmental Inc. (NYSE:GFL) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on GFL Environmental, with 10 buy, two hold and two sell ratings among 14 firms. The average 12-month price target is $57.60, above the reported share price of $42.16.
• Institutional investors own 64.7% of GFL’s stock, with major holders including Capital Research Global Investors, CIBC Asset Management and Norges Bank increasing or initiating positions.
• GFL’s latest quarterly revenue rose 16.3% year over year to $1.37 billion, but earnings per share of $0.14 fell short of the $0.17 consensus estimate. The company also declared a quarterly dividend of $0.0169 per share, equivalent to an annualized yield of about 0.2%.

GFL Environmental Inc. (NYSE:GFL - Get Free Report) has been given an average rating of "Moderate Buy" by the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $57.60.

Several equities analysts have recently commented on GFL shares. JPMorgan Chase & Co. upped their price objective on shares of GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday, July 16th. Scotiabank reissued an "outperform" rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. TD Cowen restated a "buy" rating and set a $65.00 price target on shares of GFL Environmental in a report on Friday, September 11th. Citigroup set a $51.00 price target on GFL Environmental and gave the company a "buy" rating in a research report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of GFL Environmental in a report on Monday, August 31st.

Institutional Trading of GFL Environmental

Several large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings 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. CIBC Asset Management Inc boosted its stake in shares of 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 in the last quarter. Norges Bank bought a new stake in shares of GFL Environmental during the 4th quarter valued at about $149,466,000. Geode Capital Management LLC increased its position in shares of GFL Environmental by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 2,224,997 shares of the company's stock valued at $95,178,000 after buying an additional 138,543 shares during the period. Finally, Bank of America Corp DE increased its position in shares of GFL Environmental by 43.8% during the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company's stock valued at $77,064,000 after buying an additional 563,001 shares during the period. Institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Up 1.8%

Shares of NYSE GFL opened at $42.16 on Wednesday. The firm's fifty day moving average is $41.61 and its 200 day moving average is $39.64. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $47.66. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The company has a market cap of $15.22 billion, a price-to-earnings ratio of -79.55, a PEG ratio of 3.06 and a beta of 0.68.

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 the consensus estimate of $0.17 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. On average, equities research analysts expect that GFL Environmental will post 0.57 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm 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 dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, October 14th. GFL Environmental's dividend payout ratio is currently -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.

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