GFL Environmental Inc. (NYSE:GFL) to Issue Quarterly Dividend of $0.02

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Thursday, July 2nd. Investors of record on Monday, July 13th will be given a dividend of 0.0169 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 13th.

GFL Environmental has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 5 years. GFL Environmental has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect GFL Environmental to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 8.2%.

GFL Environmental Stock Performance

GFL Environmental stock traded up $0.07 on Thursday, hitting $37.48. The company’s stock had a trading volume of 3,417,274 shares, compared to its average volume of 2,252,086. The firm has a market cap of $13.45 billion, a P/E ratio of 117.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.70. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental has a one year low of $33.33 and a one year high of $51.51. The company has a fifty day moving average price of $36.66 and a 200-day moving average price of $40.62.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that GFL Environmental will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GFL. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut GFL Environmental from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Citigroup decreased their target price on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, Scotiabank cut their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

About GFL Environmental

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.