GFL Environmental Inc. (NYSE:GFL) to Issue Dividend Increase - $0.02 Per Share

Key Points

• GFL Environmental announced a quarterly dividend of $0.0169 per share (record date April 13, payable April 30), which the company said implies a ~0.2% yield and a 9.7% increase from the prior quarterly payout.
• In its latest quarter GFL reported $0.26 EPS, beating the $0.14 consensus, while revenue of $1.23 billion missed the $1.67 billion estimate but rose 7.3% year‑over‑year.
• Analysts maintain a Moderate Buy consensus with an average target price of $56.78 after a mix of upgrades and downgrades from firms including Citigroup, RBC, Wolfe and JPMorgan.

GFL Environmental Inc. (NYSE:GFL - Get Free Report) announced a quarterly dividend on Thursday, April 2nd. Investors of record on Monday, April 13th will be given a dividend of 0.0169 per share on Thursday, April 30th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, April 13th. This is a 9.7% increase from GFL Environmental's previous quarterly dividend of $0.02.

GFL Environmental has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 5 years. GFL Environmental has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 3.1%

GFL opened at $43.12 on Friday. GFL Environmental has a fifty-two week low of $38.60 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 3.43 and a beta of 0.84. The company's 50 day moving average price is $42.93 and its two-hundred day moving average price is $43.89.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) earnings per share. As a group, research analysts predict that GFL Environmental will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

GFL has been the subject of several analyst reports. Citigroup lowered their target price on GFL Environmental from $58.00 to $56.00 and set a "buy" rating for the company in a research report on Friday, January 16th. Weiss Ratings cut GFL Environmental from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, February 9th. Royal Bank Of Canada raised their price objective on GFL Environmental from $59.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Wolfe Research assumed coverage on GFL Environmental in a report on Friday, March 13th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on GFL Environmental from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.78.

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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