Atb Cap Markets Has Bearish Forecast for GFL FY2024 Earnings

GFL Environmental Inc. (NYSE:GFL - Free Report) - Atb Cap Markets decreased their FY2024 earnings per share (EPS) estimates for shares of GFL Environmental in a research note issued to investors on Wednesday, January 8th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings per share of $0.67 for the year, down from their previous forecast of $0.69. The consensus estimate for GFL Environmental's current full-year earnings is $0.59 per share.

Other equities research analysts also recently issued research reports about the stock. Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Scotiabank increased their target price on GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a report on Friday, November 8th. UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Truist Financial increased their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, GFL Environmental has a consensus rating of "Moderate Buy" and an average price target of $45.80.

GFL Environmental Trading Down 1.3 %

GFL stock traded down $0.57 during mid-day trading on Friday, reaching $44.18. 1,579,493 shares of the stock traded hands, compared to its average volume of 1,768,416. The stock's fifty day moving average is $45.04 and its 200-day moving average is $41.85. The company has a market cap of $17.38 billion, a P/E ratio of -33.22 and a beta of 1.17. 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 52-week low of $30.57 and a 52-week high of $48.87.

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

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th. GFL Environmental's payout ratio is presently -3.76%.

Institutional Trading of GFL Environmental

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in shares of GFL Environmental in the 2nd quarter valued at approximately $201,000. Andra AP fonden bought a new position in shares of GFL Environmental in the second quarter valued at approximately $90,000. DekaBank Deutsche Girozentrale lifted its stake in shares of GFL Environmental by 3.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company's stock worth $838,000 after buying an additional 664 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of GFL Environmental by 56.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,784 shares of the company's stock worth $809,000 after buying an additional 7,491 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in GFL Environmental by 21.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 126,693 shares of the company's stock valued at $4,932,000 after buying an additional 22,481 shares during the last quarter. 64.70% of the stock is owned by 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.