Scotiabank Cuts Earnings Estimates for GFL Environmental

GFL Environmental Inc. (NYSE:GFL) – Equities researchers at Scotiabank dropped their FY2027 EPS estimates for GFL Environmental in a note issued to investors on Thursday, February 19th. Scotiabank analyst K. Gupta now expects that the company will post earnings per share of $1.02 for the year, down from their previous forecast of $1.11. Scotiabank has a “Sector Outperform” rating and a $56.00 price objective on the stock. The consensus estimate for GFL Environmental’s current full-year earnings is $0.58 per share.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted ($0.58) earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis.

Several other research firms also recently weighed in on GFL. Weiss Ratings downgraded GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. The Goldman Sachs Group started coverage on GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective for the company. Citigroup reduced their target price on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, January 16th. UBS Group lifted their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

GFL Environmental Stock Performance

GFL Environmental stock opened at $43.48 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.69. GFL Environmental has a 1-year low of $40.83 and a 1-year high of $52.00. The firm has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $45.42. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 6.39, a price-to-earnings-growth ratio of 3.29 and a beta of 0.88.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.0154 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s dividend payout ratio is currently 0.88%.

Institutional Trading of GFL Environmental

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its position in GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after purchasing an additional 2,245 shares during the period. Goldman Sachs Group Inc. lifted its holdings in GFL Environmental by 94.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock worth $34,514,000 after buying an additional 346,394 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GFL Environmental by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock worth $22,171,000 after purchasing an additional 14,252 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of GFL Environmental by 10.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,228 shares of the company’s stock worth $264,000 after buying an additional 489 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in GFL Environmental by 21.7% in the second quarter. Whipplewood Advisors LLC now owns 2,790 shares of the company’s stock valued at $141,000 after purchasing an additional 498 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.