GFL Environmental (NYSE:GFL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

GFL Environmental (NYSE:GFL) announced its earnings results on Wednesday. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03), Zacks reports. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a positive return on equity of 4.13% and a negative net margin of 3.28%.GFL Environmental’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share.

GFL Environmental Price Performance

Shares of GFL stock traded up $0.47 during mid-day trading on Friday, hitting $41.84. The company had a trading volume of 747,630 shares, compared to its average volume of 2,350,270. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $15.01 billion, a P/E ratio of -79.03, a P/E/G ratio of 3.05 and a beta of 0.70. The stock’s 50 day moving average price is $37.27 and its 200-day moving average price is $40.07. GFL Environmental has a 52-week low of $33.33 and a 52-week high of $51.51.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be issued a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental’s dividend payout ratio (DPR) is -11.32%.

Analyst Ratings Changes

A number of analysts have commented on GFL shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Weiss Ratings raised GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Citigroup set a $51.00 price objective on GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Zacks Research lowered shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Scotiabank restated an “outperform” rating on shares of GFL Environmental in a research note on Friday. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.89.

Institutional Trading of GFL Environmental

Large investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in shares of GFL Environmental during the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of GFL Environmental in the 3rd quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of GFL Environmental by 45.2% during the 3rd 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 in the last quarter. Finally, Summit Securities Group LLC purchased a new position in GFL Environmental in the fourth quarter worth about $72,000. Institutional investors own 64.70% of the company’s stock.

About GFL Environmental

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.