GFL Environmental Inc. (NYSE:GFL) Receives Average Rating of “Moderate Buy” from Brokerages

GFL Environmental Inc. (NYSE:GFL) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $49.78.

Several brokerages recently issued reports on GFL. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. Citigroup began coverage on GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 price target on the stock. Scotiabank raised their price target on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Finally, Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds have recently modified their holdings of GFL. Fred Alger Management LLC increased its position in shares of GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after purchasing an additional 3,999,363 shares during the period. Norges Bank acquired a new position in shares of GFL Environmental during the 4th quarter valued at $126,420,000. Capital Research Global Investors increased its position in shares of GFL Environmental by 11.4% during the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company’s stock valued at $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. Soros Fund Management LLC increased its position in shares of GFL Environmental by 487.0% during the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after purchasing an additional 2,618,589 shares during the period. Finally, FMR LLC increased its position in shares of GFL Environmental by 10.0% during the 4th quarter. FMR LLC now owns 27,664,678 shares of the company’s stock valued at $1,233,223,000 after purchasing an additional 2,506,021 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of GFL opened at $46.97 on Tuesday. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of -35.32 and a beta of 1.16. The stock has a 50 day moving average of $44.58 and a 200-day moving average of $43.37. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a 52 week low of $30.57 and a 52 week high of $48.87.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, analysts forecast that GFL Environmental will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is presently -3.23%.

GFL Environmental Company Profile

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.