Analysts Set GFL Environmental Inc. (NYSE:GFL) PT at $54.75

GFL Environmental Inc. (NYSE:GFL) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $54.75.

A number of research analysts recently weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research note on Friday, July 31st. Citigroup set a $51.00 price target on GFL Environmental and gave the stock a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Friday, July 31st. Finally, Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd.

Hedge Funds Weigh In On GFL Environmental

A number of large investors have recently modified their holdings of GFL. Capital Research Global Investors lifted its stake in GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. Vanguard Group Inc. raised its position in shares of GFL Environmental by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after buying an additional 97,020 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of GFL Environmental by 2.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock worth $365,595,000 after buying an additional 185,169 shares in the last quarter. CIBC Asset Management Inc boosted its stake in GFL Environmental by 25.8% during the fourth quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock valued at $219,360,000 after buying an additional 1,047,180 shares during the period. Finally, Maverick Capital Ltd. boosted its stake in GFL Environmental by 216.5% during the fourth quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock valued at $215,761,000 after buying an additional 3,436,419 shares during the period. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Trading Up 2.1%

Shares of GFL Environmental stock opened at $41.73 on Tuesday. The stock has a market capitalization of $15.06 billion, a P/E ratio of -78.73, a P/E/G ratio of 2.65 and a beta of 0.68. GFL Environmental has a 52-week low of $33.33 and a 52-week high of $51.40. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day simple moving average is $38.60 and its 200 day simple moving average is $39.96.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% 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 quarter in the prior year, the business earned $0.26 EPS. As a group, research analysts anticipate that GFL Environmental will post 0.65 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were given a dividend of $0.0169 per share. The ex-dividend date was Monday, July 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s dividend payout ratio is currently -13.21%.

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.