GFL Environmental (NYSE:GFL) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of GFL Environmental (NYSE:GFL) in a research note released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $53.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Truist Financial lifted their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Scotiabank lifted their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Raymond James upped their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.50.

GFL Environmental Price Performance

NYSE:GFL opened at $43.40 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The business’s 50-day moving average price is $44.68 and its 200 day moving average price is $42.23. GFL Environmental has a 52-week low of $30.57 and a 52-week high of $48.87. The firm has a market cap of $17.07 billion, a P/E ratio of -32.63 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. As a group, sell-side analysts predict that GFL Environmental will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be given a $0.014 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. GFL Environmental’s payout ratio is -4.51%.

Hedge Funds Weigh In On GFL Environmental

Several institutional investors and hedge funds have recently modified their holdings of GFL. FMR LLC boosted its position in GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after buying an additional 257,486 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after buying an additional 3,999,363 shares in the last quarter. Maverick Capital Ltd. increased its holdings in GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after buying an additional 372,534 shares during the last quarter. Finally, Soros Fund Management LLC raised its position in GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after acquiring an additional 2,618,589 shares in the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

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.