GFL Environmental (NYSE:GFL) Given New $56.00 Price Target at Scotiabank

GFL Environmental (NYSE:GFL) had its price objective increased by Scotiabank from $52.00 to $56.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. increased their target price on GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Weiss Ratings raised GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, Citigroup set a $51.00 price target on GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.75.

GFL Environmental Stock Down 0.1%

GFL stock opened at $41.32 on Friday. The stock has a market capitalization of $14.82 billion, a P/E ratio of -77.97, a PEG ratio of 3.13 and a beta of 0.70. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.51 and a current ratio of 0.75. GFL Environmental has a one year low of $33.33 and a one year high of $51.51. The company has a 50 day moving average price of $37.39 and a two-hundred day moving average price of $40.08.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts expect that GFL Environmental will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were paid a dividend of $0.0169 per share. The ex-dividend date of this dividend was Monday, July 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s payout ratio is currently -13.21%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in GFL Environmental by 12.0% in the fourth quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock valued at $52,700,000 after acquiring an additional 131,332 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in GFL Environmental during the fourth quarter worth about $1,327,000. Vestcor Inc increased its stake in GFL Environmental by 25.7% during the fourth quarter. Vestcor Inc now owns 391,815 shares of the company’s stock worth $16,828,000 after acquiring an additional 80,000 shares during the last quarter. Verbena Value LP raised its holdings in shares of GFL Environmental by 44.7% in the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after purchasing an additional 374,000 shares during the period. Finally, WINTON GROUP Ltd raised its holdings in shares of GFL Environmental by 483.1% in the 4th quarter. WINTON GROUP Ltd now owns 236,167 shares of the company’s stock worth $10,143,000 after purchasing an additional 195,667 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

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.