Citigroup Cuts GFL Environmental (NYSE:GFL) Price Target to $53.00

GFL Environmental (NYSE:GFL - Free Report) had its price objective trimmed by Citigroup from $56.00 to $53.00 in a research report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on GFL. Truist Financial lifted their target price on GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. UBS Group increased their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus raised shares of GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.25.

GFL Environmental Price Performance

GFL traded up $0.79 during trading hours on Tuesday, hitting $48.29. The company's stock had a trading volume of 1,790,714 shares, compared to its average volume of 1,456,561. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of -36.30 and a beta of 1.09. The business's 50-day moving average price is $46.49 and its 200-day moving average price is $44.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a 12 month low of $30.57 and a 12 month high of $49.35.

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GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. Sell-side analysts expect 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 Wednesday, April 30th. Investors of record on Monday, April 14th will be given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. This is an increase from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio (DPR) is presently -3.87%.

Hedge Funds Weigh In On GFL Environmental

A number of large investors have recently added to or reduced their stakes in GFL. FMR LLC increased its position in shares of GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company's stock worth $1,233,223,000 after purchasing an additional 2,506,021 shares in the last quarter. Capital Research Global Investors boosted its stake in GFL Environmental by 11.4% in the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock worth $1,201,406,000 after purchasing an additional 2,751,618 shares in the last quarter. Fred Alger Management LLC grew its position in GFL Environmental by 1.9% during the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock worth $463,713,000 after purchasing an additional 190,018 shares during the last quarter. Vanguard Group Inc. lifted its position in GFL Environmental by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company's stock worth $387,705,000 after acquiring an additional 217,096 shares during the period. Finally, Soros Fund Management LLC grew its stake in GFL Environmental by 1.5% during the 4th quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock valued at $142,702,000 after purchasing an additional 47,577 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Company Profile

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.