GFL Environmental Inc. (NYSE:GFL) Announces $0.02 Quarterly Dividend

GFL Environmental Inc. (NYSE:GFL - Get Free Report) declared a quarterly dividend on Thursday, July 3rd, RTT News reports. Stockholders of record on Monday, July 14th will be paid a dividend of 0.0154 per share on Thursday, July 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%.

GFL Environmental has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect GFL Environmental to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.7%.

GFL Environmental Stock Performance

Shares of GFL stock opened at $48.31 on Thursday. GFL Environmental has a 12-month low of $37.00 and a 12-month high of $52.00. The business's fifty day simple moving average is $49.69 and its 200-day simple moving average is $47.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. The company has a market cap of $17.72 billion, a PE ratio of 9.90 and a beta of 1.03.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. The firm's quarterly revenue was down 13.4% on a year-over-year basis. Analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its holdings in GFL Environmental by 684.5% during the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company's stock valued at $124,000 after purchasing an additional 2,245 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of GFL Environmental by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company's stock valued at $22,171,000 after acquiring an additional 14,252 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of GFL Environmental by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company's stock worth $34,514,000 after acquiring an additional 346,394 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

Analysts Set New Price Targets

GFL has been the subject of several research analyst reports. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Raymond James Financial restated an "outperform" rating and set a $57.00 price target (up previously from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Scotiabank reiterated an "outperform" rating on shares of GFL Environmental in a research note on Monday, May 5th. UBS Group boosted their price objective on shares of GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a report on Friday, April 4th. Finally, National Bankshares restated an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of "Buy" and an average target price of $54.50.

About GFL Environmental

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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