Citigroup Reiterates $51.00 Price Target for GFL Environmental (NYSE:GFL)

Citigroup set a $51.00 price objective on GFL Environmental (NYSE:GFL) in a research report sent to investors on Wednesday,BayStreet reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. Wolfe Research began coverage on shares of GFL Environmental in a research report on Tuesday, September 15th. They set an “outperform” rating and a $77.00 target price on the stock. Scotiabank reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a report on Monday, August 31st. Finally, TD Cowen reiterated a “buy” rating and set a $65.00 price objective on shares of GFL Environmental in a report on Friday, September 11th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.44.

GFL Environmental Price Performance

Shares of GFL opened at $43.86 on Wednesday. GFL Environmental has a 52-week low of $33.33 and a 52-week high of $47.01. 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 business’s 50 day moving average price is $42.10 and its two-hundred day moving average price is $39.76. The firm has a market cap of $15.83 billion, a PE ratio of 69.13, a price-to-earnings-growth ratio of 3.38 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) 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 quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, equities analysts anticipate that GFL Environmental will post 0.55 EPS for the current year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s dividend payout ratio (DPR) is -13.21%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new stake in shares of GFL Environmental during the first quarter worth about $32,000. Integrated Wealth Concepts LLC bought a new position in GFL Environmental in the 2nd quarter valued at about $31,000. GAMMA Investing LLC lifted its position in GFL Environmental by 853.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the company’s stock valued at $43,000 after acquiring an additional 922 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in GFL Environmental by 36.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock valued at $56,000 after purchasing an additional 360 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in GFL Environmental by 256.9% during the 1st quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock valued at $64,000 after purchasing an additional 1,110 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

About GFL Environmental

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.