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

Shares of GFL Environmental Inc. (NYSE:GFL) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $45.80.

GFL has been the subject of several research reports. Raymond James raised their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their price target on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. UBS Group boosted their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Truist Financial increased their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th.

GFL Environmental Stock Performance

NYSE GFL opened at $46.60 on Friday. The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of -35.04 and a beta of 1.15. GFL Environmental has a twelve month low of $26.87 and a twelve month high of $47.11. The stock has a fifty day simple moving average of $41.91 and a 200 day simple moving average of $39.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

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

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $0.014 per share. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental’s payout ratio is -4.51%.

Hedge Funds Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GFL. FMR LLC lifted 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 buying an additional 1,728,598 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 during the period. Fred Alger Management LLC lifted its position in shares of GFL Environmental by 64.3% during the third 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 683,120 shares during the period. Finally, Millennium Management LLC boosted its holdings 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 worth $219,922,000 after acquiring an additional 1,614,182 shares during the period. Institutional investors own 64.70% of the company’s stock.

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.