Scotiabank Forecasts Strong Price Appreciation for GFL Environmental (NYSE:GFL) Stock

GFL Environmental (NYSE:GFL - Free Report) had its price target hoisted by Scotiabank from $54.00 to $56.00 in a report issued on Monday, Marketbeat.com reports. They currently have a sector outperform rating on the stock.

GFL has been the topic of a number of other research reports. UBS Group upped their price target on shares of GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Raymond James reaffirmed an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Citigroup cut their target price on GFL Environmental from $56.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, GFL Environmental currently has a consensus rating of "Buy" and a consensus target price of $54.14.

GFL Environmental Price Performance

Shares of GFL Environmental stock traded down $0.80 on Monday, hitting $49.62. 1,926,561 shares of the company traded hands, compared to its average volume of 1,481,313. GFL Environmental has a 52 week low of $30.57 and a 52 week high of $52.00. The business has a 50-day simple moving average of $47.92 and a 200 day simple moving average of $45.66. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $19.52 billion, a P/E ratio of -37.31 and a beta of 1.08.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.10). GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental's revenue was down 13.4% on a year-over-year basis. Research analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were issued a $0.0154 dividend. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental's dividend payout ratio is presently 1.23%.

Institutional Investors Weigh In On GFL Environmental

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of GFL Environmental by 10.0% during the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock worth $1,233,223,000 after buying an additional 2,506,021 shares in the last quarter. Capital Research Global Investors increased its position in GFL Environmental by 11.4% during the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock valued at $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. Fred Alger Management LLC raised its holdings in shares of GFL Environmental by 1.9% in the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock valued at $463,713,000 after purchasing an additional 190,018 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of GFL Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company's stock valued at $427,166,000 after purchasing an additional 146,256 shares in the last quarter. Finally, Soros Fund Management LLC lifted its position in shares of GFL Environmental by 1.5% in the 4th quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock worth $142,702,000 after purchasing an additional 47,577 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

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.