Analysts Set GFL Environmental Inc. (NYSE:GFL) PT at $45.80

GFL Environmental Inc. (NYSE:GFL) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.80.

Several equities analysts have recently commented on the company. Truist Financial raised their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group increased their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Raymond James boosted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Scotiabank increased their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $44.88 on Thursday. The company’s fifty day moving average price is $44.04 and its 200-day moving average price is $41.18. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of -33.74 and a beta of 1.16. GFL Environmental has a one year low of $30.57 and a one year high of $48.87.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. On average, equities research analysts anticipate that GFL Environmental will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -3.76%.

Institutional Investors Weigh In On GFL Environmental

Large investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after acquiring an additional 257,486 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after acquiring an additional 3,999,363 shares during the period. Millennium Management LLC raised its position in shares of GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after acquiring an additional 1,614,182 shares in the last quarter. Finally, Maverick Capital Ltd. raised its position in shares of GFL Environmental by 11.3% in the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after acquiring 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.