GFL Environmental Inc. (NYSE:GFL) Announces $0.01 Quarterly Dividend

GFL Environmental Inc. (NYSE:GFL - Get Free Report) declared a quarterly dividend on Monday, September 30th, Zacks reports. Shareholders of record on Wednesday, October 16th will be paid a dividend of 0.014 per share on Thursday, October 31st. This represents a $0.06 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Wednesday, October 16th.

GFL Environmental has increased its dividend payment by an average of 19.4% per year over the last three years. GFL Environmental has a payout ratio of 5.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GFL Environmental to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

GFL Environmental Stock Performance

NYSE GFL traded up $0.19 on Monday, hitting $40.69. 870,228 shares of the stock traded hands, compared to its average volume of 1,229,566. The business's fifty day moving average is $40.62 and its two-hundred day moving average is $37.32. GFL Environmental has a 12 month low of $26.87 and a 12 month high of $43.79. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of -27.00 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. As a group, equities analysts anticipate that GFL Environmental will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GFL shares. Royal Bank of Canada increased their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. BMO Capital Markets downgraded 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 report on Tuesday, July 9th. Scotiabank started coverage on GFL Environmental in a research report on Friday, October 4th. They issued a "sector outperform" rating and a $50.00 price objective on the stock. Finally, Raymond James increased their price objective on GFL Environmental from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.09.

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.