GFL Environmental (NYSE:GFL) Issues Quarterly Earnings Results

Key Points

• GFL Environmental reported quarterly EPS of $0.14, missing the consensus estimate of $0.17 by $0.03. The company posted a 3.09% net margin and 4.53% return on equity.
• GFL shares rose to $40.36 in midday trading, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $54.89.
• The company declared a quarterly dividend of $0.0169 per share, equivalent to an annualized dividend of about $0.07 and a 0.2% yield; institutional investors own 64.7% of the stock.

GFL Environmental (NYSE:GFL - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03), Zacks reports. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.

GFL Environmental Stock Performance

GFL stock traded up $1.21 during midday trading on Wednesday, hitting $40.36. The stock had a trading volume of 4,947,014 shares, compared to its average volume of 2,334,475. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $51.51. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a 50-day simple moving average of $37.08 and a 200 day simple moving average of $40.09. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 126.14, a P/E/G ratio of 2.95 and a beta of 0.70.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be given a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental's dividend payout ratio (DPR) is 21.88%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GFL shares. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the stock a "buy" rating in a research note on Monday, July 6th. Zacks Research lowered shares of GFL Environmental from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of GFL Environmental in a report on Wednesday, May 13th. 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 report on Thursday, July 16th. Finally, Weiss Ratings cut shares of GFL Environmental from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.89.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds have recently made changes to their positions in GFL. Maverick Capital Ltd. boosted its position in shares of GFL Environmental by 216.5% during the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company's stock valued at $215,761,000 after acquiring an additional 3,436,419 shares in the last quarter. Wellington Management Group LLP raised its position in GFL Environmental by 32.7% in the fourth quarter. Wellington Management Group LLP now owns 2,668,607 shares of the company's stock worth $114,619,000 after purchasing an additional 657,027 shares in the last quarter. Millennium Management LLC lifted its stake in GFL Environmental by 5.2% during the fourth quarter. Millennium Management LLC now owns 2,539,067 shares of the company's stock worth $109,053,000 after purchasing an additional 126,570 shares during the period. Progeny 3 Inc. lifted its stake in GFL Environmental by 4.5% during the fourth quarter. Progeny 3 Inc. now owns 2,042,010 shares of the company's stock worth $87,704,000 after purchasing an additional 88,330 shares during the period. Finally, UBS Group AG boosted its holdings in GFL Environmental by 203.9% during the third quarter. UBS Group AG now owns 1,946,471 shares of the company's stock valued at $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

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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