Brokerages Set GFL Environmental Inc. (NYSE:GFL) PT at $55.00

GFL Environmental Inc. (NYSE:GFL) has been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $55.00.

GFL has been the subject of several recent research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Scotiabank dropped their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, May 4th. Weiss Ratings cut GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Barclays boosted their price objective on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th.

Hedge Funds Weigh In On GFL Environmental

Hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in GFL Environmental in the fourth quarter valued at about $25,000. Sunbelt Securities Inc. acquired a new position in GFL Environmental in the third quarter valued at about $33,000. EverSource Wealth Advisors LLC lifted its stake in GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares during the period. Whipplewood Advisors LLC acquired a new position in GFL Environmental in the first quarter valued at about $32,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL stock opened at $33.58 on Thursday. The stock’s fifty day moving average is $39.19 and its 200-day moving average is $42.08. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market capitalization of $12.05 billion, a PE ratio of 104.95, a PEG ratio of 2.61 and a beta of 0.78. GFL Environmental has a 52 week low of $33.52 and a 52 week high of $51.51.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) 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 analyst estimates of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Equities research analysts expect that GFL Environmental will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were paid a $0.0169 dividend. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental’s payout ratio is currently 21.88%.

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.