GFL Environmental Inc. (GFL) to Issue Quarterly Dividend of $0.01 on October 31st

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Monday, September 30th, Zacks reports. Shareholders of record on Wednesday, October 16th will be given a dividend of 0.014 per share on Thursday, October 31st. This represents a $0.06 annualized dividend and a yield of 0.14%. The ex-dividend date is Wednesday, October 16th.

GFL Environmental has increased its dividend payment by an average of 19.4% per year over the last three years. GFL Environmental has a dividend payout ratio of 5.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect GFL Environmental to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

GFL Environmental Stock Up 0.9 %

GFL traded up $0.35 during midday trading on Monday, hitting $40.85. The company had a trading volume of 424,478 shares, compared to its average volume of 1,227,315. GFL Environmental has a 52 week low of $26.87 and a 52 week high of $43.79. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of -27.00 and a beta of 1.16. The stock’s 50 day moving average price is $40.62 and its 200 day moving average price is $37.32.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. On average, research analysts anticipate that GFL Environmental will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on GFL. Scotiabank began coverage on shares of GFL Environmental in a report on Friday, October 4th. They set a “sector outperform” rating and a $50.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets cut shares of GFL Environmental from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Finally, Raymond James boosted their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.09.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.