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

Key Points

• GFL Environmental Inc. has received a consensus recommendation of "Buy" from eleven analysts, with an average 12-month price target of $56.29.
• Institutional investors continue to increase their holdings, with FMR LLC raising their position by 10% to over $1.2 billion during the fourth quarter.
• The company recently declared a quarterly dividend of $0.0154 per share, representing a 0.1% dividend yield.

Shares of GFL Environmental Inc. (NYSE:GFL - Get Free Report) have been assigned a consensus rating of "Buy" from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $57.57.

Several analysts have issued reports on GFL shares. Truist Financial raised their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday. Scotiabank raised their price objective on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective for the company. UBS Group raised their price objective on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Finally, Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th.

GFL Environmental Trading Down 1.0%

GFL traded down $0.51 on Friday, hitting $49.83. The company had a trading volume of 1,309,113 shares, compared to its average volume of 1,121,947. The company has a market cap of $18.27 billion, a PE ratio of 7.85 and a beta of 1.00. GFL Environmental has a 12-month low of $37.58 and a 12-month high of $52.00. The company has a quick ratio of 0.82, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The business's fifty day simple moving average is $48.97 and its 200 day simple moving average is $47.52.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Equities research analysts expect that GFL Environmental will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio is presently 0.94%.

Hedge Funds Weigh In On GFL Environmental

Large investors have recently bought and sold shares of the business. Millstone Evans Group LLC raised its stake in GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after buying an additional 334 shares in the last quarter. Bessemer Group Inc. bought a new position in GFL Environmental in the first quarter worth approximately $28,000. LRI Investments LLC bought a new position in GFL Environmental in the first quarter worth approximately $34,000. Natixis bought a new position in GFL Environmental in the fourth quarter worth approximately $49,000. Finally, Harbor Investment Advisory LLC bought a new position in GFL Environmental in the first quarter worth approximately $53,000. 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.