Scotiabank Cuts GFL Environmental (NYSE:GFL) Price Target to $57.00

GFL Environmental (NYSE:GFL) had its price objective cut by Scotiabank from $58.00 to $57.00 in a research note published on Wednesday morning, MarketBeat reports. They currently have a sector outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. 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 on the stock. William Blair began coverage on shares of GFL Environmental in a research report on Thursday, September 25th. They issued an “outperform” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GFL Environmental in a research note on Monday, December 29th. Finally, Wells Fargo & Company began coverage on shares of GFL Environmental in a research note on Thursday, November 13th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $56.56.

GFL Environmental Stock Down 0.5%

GFL Environmental stock opened at $44.43 on Wednesday. The firm has a 50 day moving average price of $43.87 and a 200-day moving average price of $46.05. GFL Environmental has a twelve month low of $40.83 and a twelve month high of $52.00. The company has a market capitalization of $15.95 billion, a P/E ratio of 6.96 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 earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that GFL Environmental will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

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

Institutional Trading of GFL Environmental

Hedge funds have recently bought and sold shares of the company. Berbice Capital Management LLC bought a new position in GFL Environmental in the second quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new position in shares of GFL Environmental in the third quarter worth about $33,000. EverSource Wealth Advisors LLC grew its position in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. Compass Financial Services Inc grew its position in shares of GFL Environmental by 63.0% during the second quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock worth $41,000 after purchasing an additional 317 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.