GFL Environmental’s (GFL) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of GFL Environmental (NYSE:GFL) in a research note published on Monday,Benzinga reports. The brokerage currently has a $53.00 price objective on the stock.

Several other research firms also recently commented on GFL. Scotiabank cut their price objective on shares of GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Citigroup began coverage on GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 price target for the company. Truist Financial boosted their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Raymond James raised their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

GFL Environmental Stock Performance

Shares of GFL opened at $44.41 on Monday. GFL Environmental has a 1 year low of $30.57 and a 1 year high of $48.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s fifty day moving average price is $44.41 and its two-hundred day moving average price is $43.13. The firm has a market cap of $17.47 billion, a PE ratio of -33.39 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, equities research analysts forecast that GFL Environmental will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Monday, January 13th. GFL Environmental’s payout ratio is -3.76%.

Institutional Investors Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. grew its stake in GFL Environmental by 241.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 119,951 shares of the company’s stock worth $5,344,000 after buying an additional 84,851 shares in the last quarter. Mackenzie Financial Corp grew its position in GFL Environmental by 74.2% in the fourth quarter. Mackenzie Financial Corp now owns 231,348 shares of the company’s stock worth $10,302,000 after acquiring an additional 98,539 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in GFL Environmental by 21.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 18,985 shares of the company’s stock valued at $846,000 after acquiring an additional 3,295 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in GFL Environmental by 151.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,684 shares of the company’s stock valued at $19,806,000 after purchasing an additional 267,932 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in GFL Environmental by 42.2% during the fourth quarter. Squarepoint Ops LLC now owns 28,895 shares of the company’s stock worth $1,287,000 after purchasing an additional 8,580 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.