GFL Environmental (NYSE:GFL) Hits New 1-Year Low – Should You Sell?

GFL Environmental Inc. (NYSE:GFL)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $35.71 and last traded at $35.7490, with a volume of 126662 shares changing hands. The stock had previously closed at $36.42.

Analyst Ratings Changes

GFL has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Zacks Research raised GFL Environmental from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday. Weiss Ratings cut GFL Environmental from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

GFL Environmental Trading Up 2.6%

The stock has a 50 day moving average of $40.90 and a 200-day moving average of $42.71. The company has a market capitalization of $13.30 billion, a P/E ratio of 116.14, a P/E/G ratio of 2.82 and a beta of 0.78. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, research analysts predict that GFL Environmental Inc. will post 0.54 EPS for the current year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were issued a dividend of $0.0169 per share. This is a boost from GFL Environmental’s previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental’s payout ratio is 21.88%.

Hedge Funds Weigh In On GFL Environmental

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in GFL Environmental by 249.8% in the 1st quarter. Renaissance Technologies LLC now owns 458,847 shares of the company’s stock worth $19,143,000 after purchasing an additional 327,686 shares in the last quarter. Sei Investments Co. grew its holdings in GFL Environmental by 13.6% during the 1st quarter. Sei Investments Co. now owns 500,055 shares of the company’s stock valued at $20,863,000 after buying an additional 59,859 shares in the last quarter. State of Wyoming purchased a new stake in GFL Environmental during the 1st quarter valued at approximately $132,000. Oslo Pensjonsforsikring AS bought a new stake in shares of GFL Environmental during the first quarter valued at approximately $291,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of GFL Environmental in the first quarter worth $388,000. Institutional investors 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.