Scotiabank Issues Pessimistic Forecast for GFL Environmental (NYSE:GFL) Stock Price

GFL Environmental (NYSE:GFL - Free Report) had its price target decreased by Scotiabank from $51.00 to $50.00 in a research note issued to investors on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities analysts have also weighed in on GFL. Truist Financial increased their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, November 8th. UBS Group raised their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Citigroup initiated coverage on GFL Environmental in a research note on Monday. They issued a "buy" rating and a $53.00 price objective on the stock. Finally, Raymond James increased their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

GFL Environmental Stock Up 2.0 %

GFL traded up $0.83 during mid-day trading on Monday, reaching $43.12. 5,442,256 shares of the stock were exchanged, compared to its average volume of 1,959,178. 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 quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $16.96 billion, a PE ratio of -32.42 and a beta of 1.17. The company has a 50 day moving average price of $44.77 and a two-hundred day moving average price of $42.15.

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, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for 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%. As a group, research analysts anticipate that GFL Environmental will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be paid a $0.014 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental's dividend payout ratio is currently -4.51%.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fred Alger Management LLC raised its position in shares of GFL Environmental by 64.3% in the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company's stock worth $407,619,000 after buying an additional 3,999,363 shares in the last quarter. Soros Fund Management LLC raised its holdings in shares of GFL Environmental by 487.0% in the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company's stock valued at $125,874,000 after acquiring an additional 2,618,589 shares in the last quarter. FMR LLC raised its holdings in shares of GFL Environmental by 7.4% in the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of GFL Environmental by 162.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company's stock valued at $50,694,000 after acquiring an additional 786,044 shares during the last quarter. Finally, Maverick Capital Ltd. grew its holdings in shares of GFL Environmental by 11.3% during the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company's stock worth $145,889,000 after purchasing an additional 372,534 shares in the last quarter. 64.70% of the stock is currently 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.