Equities Analysts Offer Predictions for GFL FY2024 Earnings

GFL Environmental Inc. (NYSE:GFL) – Equities researchers at Atb Cap Markets reduced their FY2024 earnings per share estimates for GFL Environmental in a note issued to investors on Wednesday, January 8th. Atb Cap Markets analyst C. Murray now anticipates that the company will earn $0.67 per share 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.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%.

Several other research firms also recently weighed in on GFL. Scotiabank increased their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. UBS Group increased their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Truist Financial raised their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

NYSE:GFL opened at $44.18 on Friday. 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 cap of $17.38 billion, a PE ratio of -33.22 and a beta of 1.17. The firm has a 50 day simple moving average of $45.04 and a 200-day simple moving average of $41.85. GFL Environmental has a 1-year low of $30.57 and a 1-year high of $48.87.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Seven Grand Managers LLC acquired a new stake in GFL Environmental in the 3rd quarter valued at $1,994,000. Harbor Capital Advisors Inc. grew its stake in shares of GFL Environmental by 115.3% in the third quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after buying an additional 26,542 shares in the last quarter. FMR LLC grew its stake in shares of GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after buying an additional 1,728,598 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of GFL Environmental by 2.2% during the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock valued at $36,745,000 after buying an additional 19,675 shares during the period. Finally, Forsta AP Fonden acquired a new position in GFL Environmental during the 3rd quarter worth approximately $1,761,000. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Announces Dividend

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

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.