GFL Environmental (TSE:GFL) Shares Cross Below 50-Day Moving Average – Time to Sell?

GFL Environmental Inc. (TSE:GFL)’s share price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of C$60.82 and traded as low as C$57.70. GFL Environmental shares last traded at C$60.15, with a volume of 3,959,756 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded GFL Environmental to a “strong-buy” rating in a research report on Wednesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, GFL Environmental currently has an average rating of “Strong Buy”.

GFL Environmental Stock Performance

The stock’s 50-day moving average price is C$60.82 and its 200-day moving average price is C$56.83. The company has a market capitalization of C$26.23 billion, a price-to-earnings ratio of -64.68, a P/E/G ratio of -0.76 and a beta of -0.13. The company has a debt-to-equity ratio of 105.56, a quick ratio of 0.57 and a current ratio of 0.93.

GFL Environmental (TSE:GFL) last released its quarterly earnings results on Wednesday, October 28th. The company reported C$0.37 earnings per share for the quarter. GFL Environmental had a negative return on equity of 4.32% and a negative net margin of 4.89%. The business had revenue of C$2.16 billion for the quarter. As a group, equities research analysts expect that GFL Environmental Inc. will post 1.69 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 30th were issued a $0.0169 dividend. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $0.07 annualized dividend and a yield of 0.1%. GFL Environmental’s dividend payout ratio is -9.60%.

GFL Environmental Company Profile

GFL is the fourth largest diversified environmental services company in North America, providing comprehensive solid waste management services from its platform of facilities throughout Canada and 18 U.S. states. GFL has a workforce of more than 15,000 employees across its organization.