GFL Environmental Inc. (NYSE:GFL) Given Average Rating of "Moderate Buy" by Brokerages

GFL Environmental Inc. (NYSE:GFL - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.56.

Several research firms have recently weighed in on GFL. Royal Bank of Canada lifted their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. BMO Capital Markets lowered GFL Environmental from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $43.00 to $42.00 in a research note on Tuesday, July 9th. Scotiabank initiated coverage on GFL Environmental in a research report on Friday, October 4th. They issued a "sector outperform" rating and a $50.00 price objective for the company. Finally, Raymond James lifted their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd.

GFL Environmental Price Performance

NYSE GFL traded up $0.83 during trading on Wednesday, hitting $42.11. 1,487,652 shares of the stock traded hands, compared to its average volume of 1,210,744. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. GFL Environmental has a 12-month low of $26.87 and a 12-month high of $43.79. The firm has a 50-day simple moving average of $40.79 and a 200-day simple moving average of $37.89. The company has a market capitalization of $15.86 billion, a P/E ratio of -27.98 and a beta of 1.16.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. As a group, analysts predict that GFL Environmental will post 0.61 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio (DPR) is presently -3.33%.

Institutional Trading of GFL Environmental

Institutional investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in GFL Environmental by 17.4% in the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company's stock valued at $684,877,000 after purchasing an additional 2,935,811 shares during the period. Vanguard Group Inc. raised its holdings in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company's stock worth $273,053,000 after purchasing an additional 683,120 shares during the period. Fred Alger Management LLC raised its position in GFL Environmental by 7.1% in the 2nd quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company's stock valued at $242,213,000 after buying an additional 411,128 shares during the last quarter. Millennium Management LLC grew its stake in shares of GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company's stock valued at $219,922,000 after buying an additional 1,614,182 shares in the last quarter. Finally, Maverick Capital Ltd. increased its position in GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company's stock worth $127,911,000 after buying an additional 595,259 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

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.