GFL Environmental Inc. (NYSE:GFL) Increases Dividend to $0.02 Per Share

GFL Environmental Inc. (NYSE:GFL) declared a quarterly dividend on Thursday, April 3rd, RTT News reports. Investors of record on Monday, April 14th will be given a dividend of 0.0154 per share on Wednesday, April 30th. This represents a $0.06 annualized dividend and a yield of 0.13%. This is a 10.0% increase from GFL Environmental’s previous quarterly dividend of $0.01.

GFL Environmental has raised its dividend payment by an average of 8.4% annually over the last three years. GFL Environmental has a dividend payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GFL Environmental to earn $1.06 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 5.7%.

GFL Environmental Stock Performance

NYSE GFL opened at $48.16 on Friday. The company has a market cap of $18.94 billion, a P/E ratio of -36.21 and a beta of 1.09. GFL Environmental has a 1-year low of $30.57 and a 1-year high of $49.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a 50-day moving average of $46.10 and a two-hundred day moving average of $44.13.

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

Analysts Set New Price Targets

GFL has been the subject of several analyst reports. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Scotiabank raised their target price on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. Finally, Truist Financial increased their price objective on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

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.