GFL Environmental Inc. (GFL) to Issue Quarterly Dividend of $0.02 on October 30th

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Tuesday, September 29th. Shareholders of record on Wednesday, October 14th will be given a dividend of $0.0169 per share on Friday, October 30th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, October 14th.

GFL Environmental has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. GFL Environmental has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect GFL Environmental to earn $0.85 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 7.1%.

GFL Environmental Price Performance

NYSE GFL opened at $41.83 on Thursday. GFL Environmental has a twelve month low of $33.33 and a twelve month high of $47.66. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $15.09 billion, a PE ratio of -78.92, a P/E/G ratio of 3.12 and a beta of 0.68. The stock has a 50-day simple moving average of $41.66 and a 200 day simple moving average of $39.63.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $0.26 EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. Research analysts anticipate that GFL Environmental will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GFL. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Citigroup set a $51.00 price target on GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Monday, August 31st. Barclays started coverage on GFL Environmental in a research note on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 target price for the company. Finally, Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

About GFL Environmental

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.