GFL Environmental (NYSE:GFL) Issues Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Quarterly results: GFL reported $0.06 EPS, topping estimates by $0.01, with revenue of $1.18 billion (vs. $1.17B expected) and revenue up 5.4% year‑over‑year.
• Dividend declared: the company announced a quarterly dividend of $0.0169 per share (record April 13, paid April 30), equal to a $0.07 annualized payout and a 0.2% yield.
• Analyst consensus: Wall Street is mixed but the consensus rating is Moderate Buy with a $55.44 price target, amid recent upgrades and downgrades from major firms.

GFL Environmental (NYSE:GFL - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.01, Zacks reports. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS.

GFL Environmental Price Performance

GFL opened at $40.34 on Thursday. GFL Environmental has a fifty-two week low of $36.96 and a fifty-two week high of $52.00. The firm has a 50-day moving average of $42.06 and a 200 day moving average of $43.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $14.44 billion, a P/E ratio of 5.93, a PEG ratio of 3.50 and a beta of 0.84.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 13th will be given a dividend of $0.0169 per share. The ex-dividend date is Monday, April 13th. This is an increase from GFL Environmental's previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental's dividend payout ratio (DPR) is currently 0.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GFL shares. JPMorgan Chase & Co. downgraded GFL Environmental from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $49.00 to $42.00 in a report on Tuesday, April 14th. Barclays increased their target price on GFL Environmental from $62.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, February 12th. Royal Bank Of Canada boosted their price target on shares of GFL Environmental from $59.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Weiss Ratings downgraded shares of GFL Environmental from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 9th. Finally, Citigroup dropped their price objective on shares of GFL Environmental from $55.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.44.

Institutional Trading of GFL Environmental

Several hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in GFL Environmental during the third quarter valued at approximately $1,314,000. FORA Capital LLC bought a new stake in GFL Environmental during the fourth quarter valued at $1,101,000. Twinbeech Capital LP boosted its stake in GFL Environmental by 183.6% during the fourth quarter. Twinbeech Capital LP now owns 25,121 shares of the company's stock valued at $1,079,000 after buying an additional 16,264 shares during the period. Tidal Investments LLC grew its position in GFL Environmental by 11.5% during the second quarter. Tidal Investments LLC now owns 19,867 shares of the company's stock worth $1,002,000 after buying an additional 2,056 shares in the last quarter. Finally, Shay Capital LLC grew its position in GFL Environmental by 36.4% during the second quarter. Shay Capital LLC now owns 15,000 shares of the company's stock worth $757,000 after buying an additional 4,000 shares in the last quarter. Institutional investors 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.