GFL Environmental (NYSE:GFL) Sets New 52-Week Low – Here’s Why

GFL Environmental Inc. (NYSE:GFL)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $35.47 and last traded at $35.5790, with a volume of 605078 shares trading hands. The stock had previously closed at $35.96.

Wall Street Analysts Forecast Growth

GFL has been the topic of several analyst reports. Citigroup cut their target price on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Zacks Research upgraded shares of GFL Environmental from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, Scotiabank lowered their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

GFL Environmental Price Performance

The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $12.76 billion, a P/E ratio of 111.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.78. The stock has a 50 day moving average of $39.98 and a 200-day moving average of $42.39.

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

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were paid a dividend of $0.0169 per share. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental’s payout ratio is presently 21.88%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in GFL Environmental by 35.2% during the 3rd 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 period. Bank of Nova Scotia lifted its position in shares of GFL Environmental by 17.1% in the 3rd quarter. Bank of Nova Scotia now owns 357,808 shares of the company’s stock worth $16,950,000 after purchasing an additional 52,121 shares during the period. Nordea Investment Management AB lifted its position in shares of GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after purchasing an additional 1,932,442 shares during the period. Citigroup Inc. boosted its stake in shares of GFL Environmental by 214.7% during the third 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 in the last quarter. Finally, Forge First Asset Management Inc. boosted its stake in shares of GFL Environmental by 42.9% during the third quarter. Forge First Asset Management Inc. now owns 416,100 shares of the company’s stock valued at $19,713,000 after purchasing an additional 124,900 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.