GFL Environmental (NYSE:GFL) Price Target Raised to $48.00

GFL Environmental (NYSE:GFL) had its target price lifted by JPMorgan Chase & Co. from $46.75 to $48.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on GFL. Scotiabank set a $58.00 price target on GFL Environmental in a research report on Friday, October 10th. Stifel Nicolaus assumed coverage on GFL Environmental in a report on Tuesday, September 30th. They issued a “buy” rating for the company. UBS Group upped their target price on GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. William Blair initiated coverage on shares of GFL Environmental in a research report on Thursday, September 25th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of GFL Environmental in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $56.67.

GFL Environmental Stock Performance

GFL stock opened at $42.58 on Wednesday. The firm has a 50 day moving average of $43.87 and a two-hundred day moving average of $46.21. GFL Environmental has a 12 month low of $40.83 and a 12 month high of $52.00. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 6.67 and a beta of 0.88. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.98.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. As a group, equities analysts anticipate that GFL Environmental will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 13th will be paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, January 13th. GFL Environmental’s payout ratio is currently 0.94%.

Institutional Trading of GFL Environmental

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of GFL Environmental during the second quarter valued at approximately $171,945,000. Nordea Investment Management AB increased its holdings in GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after buying an additional 1,932,442 shares during the period. UBS Group AG raised its stake in shares of GFL Environmental by 203.9% in the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after buying an additional 1,305,953 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of GFL Environmental by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock worth $285,377,000 after acquiring an additional 1,225,108 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of GFL Environmental by 62.6% during the 3rd quarter. Millennium Management LLC now owns 2,412,497 shares of the company’s stock worth $114,304,000 after acquiring an additional 929,206 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

About GFL Environmental

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.