Royal Bank of Canada Initiates Coverage on GFL Environmental (NYSE:GFL)

Royal Bank of Canada initiated coverage on shares of GFL Environmental (NYSE:GFL - Free Report) in a research report released on Monday, MarketBeat reports. The firm issued an outperform rating and a $46.00 price target on the stock.

GFL has been the subject of several other research reports. Jefferies Financial Group upped their price objective on shares of GFL Environmental from $46.00 to $51.00 and gave the stock a buy rating in a research report on Monday, March 18th. Wells Fargo & Company upped their price objective on GFL Environmental from $30.00 to $34.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. TheStreet raised GFL Environmental from a d+ rating to a c rating in a research note on Tuesday, February 20th. BMO Capital Markets increased their target price on shares of GFL Environmental from $40.00 to $42.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Finally, Bank of America downgraded shares of GFL Environmental from a buy rating to a neutral rating and set a $35.00 target price for the company. in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, GFL Environmental currently has an average rating of Moderate Buy and a consensus target price of $42.83.

GFL Environmental Stock Up 3.1 %

GFL traded up $1.05 during trading on Monday, reaching $35.40. 816,825 shares of the stock were exchanged, compared to its average volume of 1,193,741. The stock has a market cap of $13.14 billion, a P/E ratio of -354.00 and a beta of 1.13. GFL Environmental has a twelve month low of $26.87 and a twelve month high of $39.06. The stock's 50 day moving average price is $35.09 and its two-hundred day moving average price is $32.58. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.82 and a current ratio of 0.82.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%. Equities analysts expect that GFL Environmental will post 0.82 EPS for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Friday, April 12th. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's payout ratio is presently -50.00%.

Institutional Trading of GFL Environmental

A number of large investors have recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in GFL Environmental by 664.7% in the 1st quarter. First Horizon Advisors Inc. now owns 1,063 shares of the company's stock worth $37,000 after purchasing an additional 924 shares during the period. Signaturefd LLC increased its stake in shares of GFL Environmental by 48.9% during the fourth quarter. Signaturefd LLC now owns 1,178 shares of the company's stock valued at $41,000 after buying an additional 387 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of GFL Environmental by 70.1% during the second quarter. PNC Financial Services Group Inc. now owns 1,060 shares of the company's stock valued at $41,000 after buying an additional 437 shares during the period. Money Concepts Capital Corp purchased a new position in shares of GFL Environmental during the fourth quarter valued at approximately $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in GFL Environmental by 60.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company's stock worth $42,000 after purchasing an additional 454 shares during the period. 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.