GFL Environmental (NYSE:GFL) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

GFL Environmental (NYSE:GFL) released its earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.12, Zacks reports. GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.

GFL Environmental Trading Up 2.2%

NYSE:GFL traded up $0.94 during trading hours on Wednesday, hitting $44.08. 1,867,147 shares of the company were exchanged, compared to its average volume of 1,558,753. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 6.91 and a beta of 0.88. GFL Environmental has a one year low of $40.83 and a one year high of $52.00. The company has a fifty day simple moving average of $43.32 and a 200 day simple moving average of $45.65. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98.

GFL Environmental Dividend Announcement

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

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in GFL. Sunbelt Securities Inc. acquired a new stake in GFL Environmental during the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares during the period. Danske Bank A S bought a new position in GFL Environmental during the third quarter worth $82,000. Finally, Jones Financial Companies Lllp raised its stake in GFL Environmental by 684.5% during the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after buying an additional 2,245 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GFL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target 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. The Goldman Sachs Group started coverage on shares of GFL Environmental in a research note on Monday, November 24th. They issued a “neutral” rating and a $50.00 price objective for the company. UBS Group raised their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings downgraded shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.56.

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.