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

Key Points

• GFL Environmental has an average analyst rating of “Moderate Buy” from 16 research firms, with 12 buy ratings, 2 holds, and 2 sells. The average 12-month price target is about $54.89.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.06 versus estimates of $0.05 and revenue of $1.18 billion versus $1.17 billion expected. Revenue rose 5.4% year over year.
• GFL also announced a quarterly dividend of $0.0169 per share, payable July 31, implying an annualized yield of about 0.2%. Meanwhile, institutional ownership remains high at 64.7%.

Shares of GFL Environmental Inc. (NYSE:GFL - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.8889.

GFL has been the topic of several analyst reports. Scotiabank cut their target price on GFL Environmental from $56.00 to $52.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday. Weiss Ratings cut shares of GFL Environmental from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of GFL Environmental in a report on Wednesday, May 13th. Finally, 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.

GFL Environmental Trading Up 1.8%

GFL opened at $39.63 on Friday. The firm has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $40.31. GFL Environmental has a fifty-two week low of $33.33 and a fifty-two week high of $51.51. The company has a market cap of $14.22 billion, a price-to-earnings ratio of 123.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. On average, sell-side analysts anticipate that GFL Environmental will post 0.56 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 13th. GFL Environmental's dividend payout ratio is 21.88%.

Institutional Trading of GFL Environmental

Several hedge funds have recently bought and sold shares of GFL. EverSource Wealth Advisors LLC lifted its position in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock valued at $37,000 after acquiring an additional 219 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of GFL Environmental by 4.1% in the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company's stock valued at $310,000 after buying an additional 256 shares during the last quarter. Tobam grew its stake in shares of GFL Environmental by 10.5% in the fourth quarter. Tobam now owns 3,079 shares of the company's stock valued at $132,000 after buying an additional 293 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock worth $46,000 after purchasing an additional 304 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in shares of GFL Environmental by 6.8% during the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company's stock worth $262,000 after buying an additional 331 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

About GFL Environmental

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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