What is Scotiabank's Forecast for GFL FY2024 Earnings?

GFL Environmental Inc. (NYSE:GFL - Free Report) - Stock analysts at Scotiabank issued their FY2024 earnings estimates for shares of GFL Environmental in a report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta anticipates that the company will post earnings per share of $0.63 for the year. Scotiabank currently has a "Sector Outperform" rating and a $51.00 price target on the stock. The consensus estimate for GFL Environmental's current full-year earnings is $0.59 per share. Scotiabank also issued estimates for GFL Environmental's FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.55 EPS.

Several other brokerages also recently issued reports on GFL. Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. UBS Group upped their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Truist Financial raised their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.80.

GFL Environmental Price Performance

GFL Environmental stock opened at $44.18 on Monday. The business's fifty day moving average is $45.04 and its two-hundred day moving average is $41.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $17.38 billion, a P/E ratio of -33.22 and a beta of 1.17. GFL Environmental has a 52 week low of $30.57 and a 52 week high of $48.87.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th. GFL Environmental's dividend payout ratio (DPR) is currently -3.76%.

Institutional Investors Weigh In On GFL Environmental

A number of institutional investors have recently made changes to their positions in the stock. Continuum Advisory LLC boosted its holdings in GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company's stock worth $29,000 after buying an additional 254 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of GFL Environmental in the 3rd quarter valued at approximately $60,000. Avior Wealth Management LLC acquired a new position in GFL Environmental during the third quarter valued at approximately $82,000. US Bancorp DE increased its stake in GFL Environmental by 51.5% in the third quarter. US Bancorp DE now owns 2,569 shares of the company's stock valued at $102,000 after purchasing an additional 873 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in GFL Environmental by 30.7% in the third quarter. Signaturefd LLC now owns 2,808 shares of the company's stock worth $112,000 after purchasing an additional 659 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

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.