GFL Environmental Inc. (NYSE:GFL) Receives $56.67 Average Target Price from Brokerages

by · The Markets Daily

Shares of GFL Environmental Inc. (NYSE:GFL – Get Free Report) have received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $56.6667.

Several equities analysts recently commented on the company. Weiss Ratings cut GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Citigroup lowered their price target on GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Scotiabank cut their price objective on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group assumed coverage on shares of GFL Environmental in a research note on Monday, November 24th. They issued a “neutral” rating and a $50.00 target price on the stock.

Check Out Our Latest Research Report on GFL Environmental

GFL Environmental Stock Down 1.3%

Shares of NYSE:GFL opened at $42.42 on Friday. The firm has a fifty day moving average price of $43.23 and a two-hundred day moving average price of $44.57. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental has a one year low of $40.83 and a one year high of $52.00. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 3.35 and a beta of 0.86.

GFL Environmental (NYSE:GFL – Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. Analysts anticipate that GFL Environmental will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.0154 dividend. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s dividend payout ratio is presently 0.88%.

Institutional Trading of GFL Environmental

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in GFL Environmental by 35.2% during the third quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock worth $63,706,000 after purchasing an additional 349,720 shares during the last quarter. Generate Investment Management Ltd purchased a new position in shares of GFL Environmental in the 3rd quarter worth about $7,891,000. Munro Partners bought a new position in shares of GFL Environmental during the 2nd quarter valued at about $12,926,000. Citigroup Inc. increased its position in shares of GFL Environmental by 214.7% during the 3rd quarter. Citigroup Inc. now owns 114,849 shares of the company’s stock valued at $5,444,000 after purchasing an additional 78,349 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of GFL Environmental during the 2nd quarter valued at about $457,000. 64.70% of the stock is owned by institutional investors.

About GFL Environmental

(Get Free Report)

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.

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