Citigroup Cuts GFL Environmental (NYSE:GFL) Price Target to $51.00

GFL Environmental (NYSE:GFL) had its price target reduced by Citigroup from $55.00 to $51.00 in a research report released on Tuesday, MarketBeat.com reports. Citigroup currently has a buy rating on the stock.

GFL has been the subject of several other reports. Scotiabank decreased their target price on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 12th. Wolfe Research initiated coverage on shares of GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. cut shares of GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $49.00 to $42.00 in a research note on Tuesday. Barclays raised their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings cut shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.44.

GFL Environmental Price Performance

NYSE GFL opened at $39.02 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. GFL Environmental has a 12-month low of $36.96 and a 12-month high of $52.00. The company has a market capitalization of $13.97 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 3.09 and a beta of 0.84. The firm’s 50 day moving average is $42.64 and its 200-day moving average is $43.68.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned ($0.58) earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 13th will be given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Monday, April 13th. GFL Environmental’s dividend payout ratio (DPR) is presently 1.03%.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GFL. Aster Capital Management DIFC Ltd bought a new position in GFL Environmental during the fourth quarter worth $25,000. Sunbelt Securities Inc. bought a new position in GFL Environmental during the third quarter worth $33,000. EverSource Wealth Advisors LLC boosted its position in GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after purchasing an additional 304 shares during the period. Finally, Summit Securities Group LLC bought a new position in GFL Environmental during the fourth quarter worth $72,000. 64.70% of the stock is owned by institutional investors.

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.