GFL Environmental (NYSE:GFL) Price Target Raised to $56.00

GFL Environmental (NYSE:GFL) had its price objective raised by Citigroup from $53.00 to $56.00 in a research note released on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on GFL. Royal Bank of Canada upped their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Truist Financial lifted their price target on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Seaport Res Ptn upgraded GFL Environmental to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GFL Environmental currently has a consensus rating of “Buy” and an average target price of $54.57.

GFL Environmental Stock Down 1.2%

Shares of NYSE GFL opened at $48.08 on Tuesday. The firm has a market cap of $18.91 billion, a P/E ratio of -36.15 and a beta of 1.08. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental has a 1 year low of $30.57 and a 1 year high of $52.00. The firm’s 50 day moving average price is $47.97 and its 200 day moving average price is $45.80.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. GFL Environmental’s revenue was down 13.4% on a year-over-year basis. As a group, sell-side analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 14th were issued a $0.0154 dividend. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental’s dividend payout ratio is currently 1.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in shares of GFL Environmental by 48.0% during the 1st quarter. Northern Trust Corp now owns 768,936 shares of the company’s stock valued at $37,147,000 after buying an additional 249,233 shares during the period. Northwest & Ethical Investments L.P. raised its stake in shares of GFL Environmental by 76.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 17,932 shares of the company’s stock valued at $867,000 after purchasing an additional 7,763 shares during the period. American Century Companies Inc. raised its stake in shares of GFL Environmental by 87.2% during the first quarter. American Century Companies Inc. now owns 4,515,302 shares of the company’s stock valued at $218,134,000 after purchasing an additional 2,102,663 shares during the period. Element Capital Management LLC acquired a new position in shares of GFL Environmental during the first quarter worth $432,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of GFL Environmental in the first quarter valued at $59,000. Institutional investors and hedge funds 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.