Brokerages Set GFL Environmental Inc. (NYSE:GFL) Target Price at $55.00

Shares of GFL Environmental Inc. (NYSE:GFL) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $55.00.

GFL has been the topic of several research analyst reports. Weiss Ratings lowered shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Royal Bank Of Canada lifted their target price on shares of GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. lowered shares of GFL Environmental from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Finally, Scotiabank decreased their price target on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th.

Hedge Funds Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of GFL Environmental in the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new position in shares of GFL Environmental in the first quarter worth about $32,000. Sunbelt Securities Inc. purchased a new position in shares of GFL Environmental in the third quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its stake in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Up 2.3%

Shares of NYSE GFL opened at $34.30 on Thursday. The company’s 50-day simple moving average is $39.02 and its 200-day simple moving average is $42.01. GFL Environmental has a 52-week low of $33.52 and a 52-week high of $51.51. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 107.20, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that GFL Environmental will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were paid a $0.0169 dividend. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental’s payout ratio is 18.75%.

GFL Environmental Company Profile

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.